Zhou Xiaochuan, governor of the People’s Bank of China, stated at the press conference for the third session of the 11th National People’s Congress held on March 6 that the monetary policy shall be dynamically adjusted in accordance with the feedback information of economic indicators.

The government work report of this year pointed out that the target of M2 growth in broad sense this year is about 17%, with the newly-increased RMB loans of roughly RMB7.5t. Though the two indicators are both lower than the ones of last year, but they are still moderately loose policy targets. For this, Zhou stated that in terms of monetary policy, the moderately loose monetary policy will continue but we shall also pay high attention to the change of inflation anticipation and other economic indicators. So, we shall weigh the factor of continuously maintaining economic stable and fast growth and preventing inflation.