China's prudent monetary policy to continue

(China Daily) China will not change its prudent monetarypolicy stance, but would consider adopting a more flexible approach by tiltingit toward either a tighter or more easing direction, a top central bankofficial said on Thursday.

Zhou Xiaochuan, governor of the People'sBank of China, said at a news conference during the annual meeting of thecountry's top legislature: "The Chinese economy is facing a 'new normal',or a new stage of slower growth than the past few years. But a new normal isstill a normal situation, not something special or problematic. So we don'tneed a new term to define our monetary policy."