Comments out on reuters from Peoples Bank of China
- will make timely fine tuning of policy
- various p0licy tools to be used to guide reasonable growth in credit and social finance
- will effectively prevent systematic risks and promote steady economic growth
- economy still faces risks and challenges
- see big problems in property market and local govt debt
- will resolutely rein in speculative property demand
- will use market mechanisms to solve local govt debt problems
- Chinese economy to undergo long deleveraging process
- prices situation basically stable but needs close attention
- consumer inflation may rise in Q4 2013
- urging commercial banks to strengthen liquidity management
- PBOC to push further interest rate and currency reforms
A cautious/concerned report from the Chinese central bank ahead of the Third Plenum this week-end.