China To Maintain Stable Monetary Policies, Says Central Bank Governor

BEIJING, Feb 26 (Bernama) -- People's Bank of China Governor Zhou Xiaochuan said China will continue to implement stable monetary policies, Xinhua News Agency reported Friday. China will not "overly" plan its macroeconomic policies based on exterior economic performance or capital flow, he was quoted as saying at the G20 Finance Ministers and Central Bank Governors Meeting in Shanghai. Zhou said China had consistently opposed competitive currency depreciation, which has been used by some countries to boost export strength. "China has seen remarkable exports and the goods trade surplus hit nearly US$600 billion last year. China will not use "competitive depreciation" to boost export capacity," he added. -- BERNAMA