(Yicai Global) Dec. 30 -- China’s central bank reiterated its commitment to a consistent and stable monetary policy as it maintains necessary support for the country’s economic recovery.

The People's Bank of China will continue to hew to a prudent monetary policy that is flexible, precise, reasonable and moderate, and keep it consistent, stable and sustainable, Xinhua News Agency reported.

The PBOC also will pay attention to the ideal timing, extent and impact of policies, the report said, citing a statement the bank released yesterday following its monetary policy committee’s quarterly meeting on Dec. 25.

The PBOC will use a variety of monetary tools to ensure liquidity at a reasonable and ample level and keep the growth of money supply and credit in line with nominal economic growth as well as maintain a stable macro leverage ratio, the statement said.

The central bank vowed further monetary support for the real economy, stressing more financial aid for small and micro firms as well as those involved in technological innovation and green development.

It also pledged to promote high-level two-way financial opening and improve its management and risk control capabilities.

Editor: Martyn Cartwright