Chinese policymakers told global financial leaders on Friday the world's second-largest economy remains on a sound footing, while also seeking to manage expectations around the pace of economic reforms in the country.
Speaking at the G20 meeting of central bank governors and finance ministers kicked off in Shanghai, central bank governor Zhou Xiaochuan sent a message of confidence and repeated earlier reassurances the country would not stage another devaluation of its currency to support the economy.
The latest economic data shows positive signs for China's growth prospects in 2016, and the People's Bank of China (PBOC) still has room and tools in its monetary policy to deal with potential downside risks to its economy, Zhou told a conference held by the Institute of International Finance in conjunction with the G20 meeting.
At the same time, policy makers need to strike a balance between growth, restructuring and managing risks to the economy.
"While the reform direction is clear, managing the reform pace will need windows (of opportunity) and conditions...The pace will vary, but the reform will be set to continue and the direction is not changed," Zhou said in English.
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