China will aim to stabilise employment, prices – PBOC monetary policy department

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BEIJING (Reuters) – China will aim to stabilize employment and prices to consolidate the foundations of economic recovery, according to a statement published by the monetary policy department at the People’s Bank of China said on Friday.

It said China will implement prudent monetary policy and not resort to flood-like stimulus.

China’s economy was surprisingly resilient in August, with data showing faster-than-expected growth in factory output and retail sales shoring up a fragile recovery, although a deepening property slump weighed on the outlook.

(Reporting by Liangping Gao and Ryan Woo; Editing by Hugh Lawson)