China's central bank reaffirmed on Wednesday it will stick to its moderately easy monetary policy to consolidate the country's economic recovery.
The bank also said it would use market tools to guide appropriate lending growth during the second half of this year.
The major task was to continue fostering steady economic growth by maintaining credit policy continuity and stability as the economy was in a crucial phase, the People's Bank of China said in its second quarter monetary policy report Wednesday.
China's economy expanded 7.9 percent from a year earlier during the quarter, up from 6.1 percent in the first three months, boosted by governmental fiscal and monetary policies put into place last year.
Chinese banks advanced a record 7.37 trillion yuan (1.08 trillion U.S. dollars) in new loans during the first half of the year, exceeding the full year target of 5 trillion yuan.
Source: Xinhua
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