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China's central bank said Thursday it will make stabilizing economic growth a bigger priority, signaling rising concern over the slowdown in the world's second-largest economy.

 

The People's Bank of China, in its second-quarter monetary policy report, repeated a standard formulation that it would balance the three objectives of maintaining steady and relatively fast growth, adjusting the economic structure and managing inflation expectations.

 

But it added new language on growth, saying it would "put stabilizing growth in a more important position." The change signals that it sees the slowdown as the biggest risk in the Chinese economy, and that it may take further measures to boost growth.