China's Central Bank Says Economy Is on Positive Track But Challenges Persist
China's economy is showing positive signs and confidence is building, but challenges such as insufficient domestic demand and deflationary pressure persist, according to the country's central bank.
The People's Bank of China, in a statement after its quarterly monetary policy committee meeting, said it will adopt a flexible approach to policymaking, taking into account both domestic and international conditions. Monetary policy will remain 'moderately loose,' with the aim of maintaining stable economic growth and prices within a reasonable range, it said.
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