BEIJING, Nov. 12 (Xinhua) -- China's central bank pledged to step up counter-cyclical adjustment, boost domestic demand and improve supply, as part of efforts to promote sustained and higher-quality economic growth, according to its third-quarter monetary policy report released on Wednesday.
The People's Bank of China (PBOC) pledged to make monetary policy more forward-looking, flexible and targeted, adjusting the intensity, pace and timing of policy measures in response to domestic and global economic and financial conditions.
It will keep liquidity ample and financing conditions relatively accommodative, while guiding growth in aggregate financing to the real economy and money supply to be in line with economic growth and the expected target for the overall price level, the report said.
The central bank also pledged to promote a shift in loan interest rate pricing from a predominant reliance on the loan prime rate to a more diversified set of pricing benchmarks.
The PBOC will make better use of structural monetary policy tools to support key areas including domestic demand, technological innovation, micro, small and medium-sized enterprises, and the development of key infrastructure networks, the report said.
On the yuan, the central bank reiterated its commitment to a managed floating exchange rate regime based on market supply and demand, with reference to a basket of currencies.
It pledged to enhance foreign exchange market resilience, stabilize market expectations and guard against the risk of exchange-rate overshooting, while keeping the yuan basically stable at a reasonable and balanced level.
The report showed that China's foreign exchange market supply and demand remained broadly balanced. At the end of September, the yuan closed at 6.7053 per U.S. dollar, appreciating 4.1 percent from the end of 2025.
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