China stresses keeping prudent monetary policy more flexible, appropriate

The State Council, China's cabinet, on Sept 2 stressed efforts to pursue a prudent monetary policy in a more flexible and appropriate way in order to promote steady economic and financial operation.

It emphasized the need to maintain policy strength and sustainability, refrain from resorting to a deluge of strong stimulus policies, and channel funds into the real economy, according to a statement released after a State Council executive meeting chaired by Premier Li Keqiang.

The State Council also specified rules on the establishment of financial holding companies to better serve the real economy.

In terms of air pollution control in the Beijing-Tianjin-Hebei region and its neighboring areas, the meeting stressed enhancing the clean use of coal and accelerating the transformation and upgrading of the steel, coking, petrochemical and construction materials and other industries.

Efforts should be made to develop the eco-friendly industries and circular economy, strengthen international cooperation, and achieve economic growth and environmental protection at the same time, the statement said.

Two nuclear-power projects with a total investment of 70 billion yuan (about $10.24 billion) were approved at the meeting. Pushing ahead with nuclear power projects is an important measure to expand effective investment, enhance energy support and reduce greenhouse-gas emissions, the statement said.