BEIJING, Dec. 13 (Xinhua) -- The People's Bank of China, or the central bank, will make further efforts to maintain prices stable after China's inflation rate hit a 28-month high, according to reports on Monday.
* x s! s W1 @4 v" u, e2 Q$ n The central bank will analyze global economic developments and balance the relations between stable and relatively fast economic development, economic restructuring and managing the expected inflation, according to a discussion held during the central bank's meeting.
9 s/ h, ~, d* {4 f q The central bank will enact stable monetary policies and seek to control fluidity, channeling credit funds to real businesses, especially agricultural and small and medium-sized enterprises, according to the central bank.' u) A" {; w% F& H# W
The central bank will also improve yuan exchange rate formation mechanisms, according to discussions at the meeting.# j4 |$ O( a0 ^' h
On Saturday, Chinese officials said the nation's inflation rate rose 5.1 percent in November year on year, which was a 28-month high. |