As China looks to transform its growth model, the country recently laid out guidelines to ensure that the financial sector supports its economic rebalancing efforts. The State Council issued a 10-measure guideline for the financial sector on July 5. The governing body reiterated that it will maintain a prudent monetary policy and a reasonable money and credit supply to support economic restructuring after a cash crunch sent interbank borrowing rates to record highs in June. It also pledged to press ahead with financial reforms and strike a balance between stabilizing economic growth, adjusting its economic structure and guarding against financial risks. goo.gl/84ciN
Posted on: Mon, 15 Jul 2013 12:45:42 +0000
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