Monetary policy change depends on economic condition, stimulus exit cautious: China's central bank governor

BEIJING, March 6 (Xinhua) -- China will adjust its monetary policy in accordance with changes of economic indicators and feedbacks from policy implementation, said central bank governor Zhou Xiaochuan Saturday.

Full Video: Press conference-- Economic macro-control in focus (I)

               Press conference: Economic macro-control in focus (II)

Zhang Ping, Chairman of National Development and Reform Commission (NDRC), Xie Xuren, the Minister of Finance, Chen Deming, the Minister of Commerce, and Zhou Xiaochuan, governor of the People's Bank of China, attend a news conference of the Third Session of the 11th National People's Congress (NPC) on the enhancement and improvement of macro-economic control held at the Great Hall of the People in Beijing, China, March 6, 2010.(Xinhua/Li Ziheng)

Zhou made the remarks at a press conference held on the sidelines of the annual session of the National People's Congress (NPC), the country's top legislature.

China targets a rise of consumer price of around 3 percent this year, according to the government work report delivered by Premier Wen Jiabao Friday.

"It's difficult for us to anticipate all the possible scenarios and changes in indicators. Therefore, our plicy will be adjusted according to changes in economic indicators and feedbacks from implementation," said Zhou.

"We are going to continue with a moderately easy monetary policy but at the same time closely follow inflation and changes in other economic indicators," he said, noting that inflation control will be very complicated this year.

China will enhance the focus and flexibility of the policy according to new conditions and strike a balance between inflation expectation management and maintaining a sound growth, he said.

More at press conf. on Economic macro-control: 

-- China's stimulus package benefits world recovery: minister

-- China opposes politicizing monetary issues: central governor

 -- China's stimulus package benefits world recovery: minister

-- China to further improve formation mechanism of yuan exchange rate: central bank

-- China-ASEAN FTA a win-win opportunity: minister