The People's Bank of China, the country's central bank, said Wednesday the country's increased money supplies for this year is forecast at 2.3 trillion (283 billion US dollars) to 2.5 trillion yuan (308 billion US dollars), or up about 17 percent.

Late last year, China's central authorities set the growth rate of the country's money supplies at 15 percent with its money supplies increasing by 2.5 trillion yuan (308 billion US dollars).

In its quarterly report on the implementation of monetary policies, the bank said it will continue to pursue the prudent monetary policy in the last quarter of this year to maintain continuity and stability in the total amount of money supplies.

The bank said it will use a combination of monetary policy tools in a flexible way to maintain rational growth of money supplies while continuing the policies of interest rate liberalization, and make use of monetary policies in pushing forward the transformation of economic growth mode and economic restructuring.

The central bank said it will study financial policies to boost consumption and other policies to boost domestic demand.

The bank will also study policies to increase new credit loan products and help commercial banks to expand their credit loans for consumers in broadth and width, according to the report.

The report said the bank will continue to increase the role of market demand and supply in forming foreign exchange rate.

Source: Xinhua