State Council committee stresses economic, financial stability

The financial stability and development committee under China's State Council held a meeting on Wednesday, urging measures to keep the country's major economic indicators within an appropriate range and maintain stable operation of the capital market.

Concrete actions must be taken to bolster the economy in the first quarter, the meeting said, adding that monetary policy should take the initiative to cope with the situation, while new loans should maintain an appropriate growth.

The meeting stressed that relevant authorities should earnestly shoulder their responsibilities, actively introduce market-friendly policies and prudently introduce policies that have a contractionary effect.

Any policy that has a significant impact on the capital market should be coordinated with the financial regulatory authorities in advance to maintain stable and consistent expectations, the meeting said.