China central bank says to support growth but avoid over stimulating economy

[BEIJING] China's central bank said on Tuesday that it will fine-tune policy to help head off an economic slowdown but avoid over-stimulating the economy.

In its fourth-quarter monetary policy implementation report, the People's Bank of China said it would use both quantitative and pricing tools to keep liquidity levels appropriate and to maintain reasonable credit growth.

The central bank also said that China's economy faces relatively big downward pressures, but reaffirmed its pledge to keep the yuan basically stable.

REUTERS