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China central bank to step up monetary policy fine-tuning in H2

by fwire  Aug 5, 2012 15:30 IST

#Business   #India   #NewsTracker  

BEIJING (Reuters) - China's central bank pledged on Sunday to intensify its monetary policy fine-tuning in the second half of this year and improve credit policy to bolster the real economy.

The central People's Bank of China will also widen the use of its currency in cross-boarder trade and investment and gradually push ahead with capital account convertibility of yuan currency, the bank said in a statement on its website(www.pbc.gov.cn).

(Reporting by Aileen Wang and Ben Blanchard)