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China targets 'prudent' 12% growth in broad money supply for 2017 to cool credit expansion

Beijing

CHINA plans to target broad money supply growth of around 12 per cent in 2017, slightly lower than last year's goal, policy sources said, signalling a bid to contain debt risks while keeping growth on track.

Under its new "prudent and neutral" policy, the People's Bank of China (PBOC) has adopted a modest tightening bias in a bid to cool torrid credit expansion, though it is treading cautiously to avoid hurting the economy.

The M2 growth target was endorsed by leaders at the closed-door Central...

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