China will maintain its current easy-credit policies as full economic recovery will depend on boosting domestic consumption and investment, the Wall Street Journal reported, citing the People’s Bank of China (PBoC). "Although the general trend of stabilization in the [global] economy has been basically established, the process of recovery may be slow and torturous," the central bank said in its quarterly monetary policy report. The PBoC cited numerous factors that could affect the progress of the nation’s recovery, including commodity prices, inflation, economic protectionism, and fluctuations in the value of the dollar. Consequently, the bank said it must continue the policies that have led to a 33% rise in bank lending this year. The central bank said it would “unswervingly implement the appropriately loose monetary policy” but that it may “carry out fine-tuning” in reaction to changes in the domestic and international economies.
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