China's economy faces relatively large downward pressure

[BEIJING] China's economy still faces relatively large downward pressure, the central bank said in its 2015 annual report, adding that it hopes to keep economic growth within a reasonable range.

The People's Bank of China reiterated it would keep monetary policy prudent and pledged to strictly control additional industrial capacity, the central bank said in the report which also contained the outlook for China's economic conditions.

The central bank expects mild acceleration of inflation, but said the inflation outlook faces uncertainty due to rising housing prices and volatility in agricultural product prices.

REUTERS