Price growth, consumption can be stronger: PBOC

China's price growth and consumer demand "can be stronger" because the nation's economy is sound and there's reduced risks from local government debt and the property market, according to the central bank.

The country will adopt a more proactive fiscal policy, and a monetary policy that's more accommodative, People's Bank of China Governor Pan Gongsheng said at a conference in AlUla, Saudi Arabia, yesterday. The economy has been fundamentally strong and the yuan remained largely steady, he added.

"A stable yuan has played a key role in maintaining global financial and economical stability," Pan said at the conference organized by the International Monetary Fund and the Saudi finance ministry. PBOC will seek to "keep the market exchange rate basically stable at an adaptive and equilibrium level."

Bloomberg