China's central bank comfortable with economy

Beijing

CHINA'S central bank governor on Thursday signalled that Beijing is comfortable with the current macroeconomic environment and plans to stick with its "prudent" monetary policy.

Zhou Xiaochuan also gave a suggested implementation timeline, for the first time, for introduction of deposit insurance and the full liberalisation of deposit rates.

Both are seen as key reforms needed for the wider restructuring of China's economy and a move away from miscalculated and mispriced investment.

The People's Bank of China governo…