China’s Central Bank Vows to Balance Growth and Inflation

China’s central bank pledged to strike a balance between supporting growth and preventing inflation risks this year as it assesses the economy’s need for further stimulus amid a faster-than-expected recovery following the scrapping of Covid restrictions.

The People’s Bank of China (PBOC) will maintain a targeted, forceful and stable monetary policy to provide sustainable support for the real economy and refrain from using “flood-style” stimulus, the central bank said Friday in its quarterly monetary policy report.