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China's central bank vows support to boost domestic demand, tech innovation

BY Reuters | ECONOMIC | 07:49 AM EDT

BEIJING, May 11 (Reuters) - China's central bank will continue to implement an appropriately loose monetary policy, and strengthen financial support for expanding domestic demand and scientific and technological innovation, it said in a report released on Monday.

The central bank will "utilise a variety of monetary policy tools flexibly to maintain ample liquidity and relatively loose social financing conditions" and "maintain the basic stability of yuan exchange rate at a reasonable and balanced level," the People's Bank of China said in its monetary policy implementation report for the first quarter. (Reporting by Xiuhao Chen, Shi Bu and Liz Lee; Editing by Toby Chopra)

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