China will provide necessary support for economic recovery – PBOC vice governor

BEIJING (Reuters) – China’s monetary policy will provide necessary support for the country’s economic recovery in 2021, a vice governor at the People’s Bank of China (PBOC) said on Friday. Backed by tough coronavirus containment measures and emergency relief for businesses, the world’s second-largest economy has basically recovered to pre-pandemic levels, but a resurgence of infections worldwide and in parts of China itself is keeping policymakers cautious. China’s prudent monetary policy will be more flexible, targeted and appropriate this year, Chen Yulu told a news conference, adding the central bank will prioritise policy stability and avoid making sudden shifts, Chen…