China to maintain prudent monetary policy in 2019: PBOC

China will continue implementing prudent monetary policy in 2019, said Yi Gang, head of the People's Bank of China (PBOC).

Governor of the People's Bank of China Yi Gang attends a press conference on the financial reform and development for the second session of the 13th National People's Congress (NPC) in Beijing, capital of China, March 10, 2019. [Photo: Xinhua/Li Ran]

He made the remarks on Sunday during a press conference on the sidelines of the second session of the 13th National People's Congress in Beijing.

"The monetary policy will be reasonable in the matter of total amount, not too eased nor too tightened, which means the growth rate of M2 money supply or social financing will be kept at about the same level with the growth rate of the GDP of the private economy," said the PBOC governor.

China will continue implementing prudent monetary policy in 2019, said Yi Gang, head of the People's Bank of China (PBOC).[File Photo: VCG]

In the meantime, the structure of the country's monetary policy will be improved by giving more support to small and micro enterprises as well as private enterprises, Yi added.

He also noted that the monetary policy will be balanced based on China's domestic and foreign situations, as the economy of China is deeply integrated with the rest of the world.

To better comprehend the contents of China's prudent monetary policy, the central bank's governor recommended that there should be comparisons between a wider range of time rather than just looking at the data of only one or two months.