Economy

China will aim to stabilize employment and prices – Monetary Policy Division of the People’s Bank of China

China will aim to stabilize employment and prices – Monetary Policy Division of the People’s Bank of China

BEIJING (Reuters) – China will aim to stabilize employment and prices to strengthen the foundations for economic recovery, a statement issued by the Monetary Policy Department of the People’s Bank of China said on Friday.

She said China will implement prudent monetary policy and not resort to flood-like stimulus.

China’s economy was surprisingly resilient in August, with data showing faster-than-expected growth in factory production and retail sales leading to a shaky recovery, although a mounting housing slump weighed on the outlook.

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