China's central bank vows greater support for real economy

China’s central bank pledged greater support for the real economy, and said it will make monetary policy more forward-looking and targeted.

There will be more “proactive” use of monetary policy tools, the People’s Bank of China said in a statement on Saturday. The monetary policy committee held a meeting on Friday that was chaired by Governor Yi Gang, it said.

The central bank also reiterated its aim to promote the property sector’s “healthy” growth and protect home buyers’ rights, as well as work to better meet housing demand.

The PBOC has so far taken a restrained approach to monetary stimulus but expectations are