(Yicai) June 28 -- The People’s Bank of China revealed the priorities discussed at its second-quarter monetary policy meeting, including using monetary and credit policies to strengthen economic vitality and resolve risks.

At the policy meeting held in Beijing on June 25, the central bank said it was necessary to strengthen the implementation of existing monetary policy, maintain a reasonable supply of liquidity, guide reasonable credit growth and balanced investment, maintain the scale of social financing, and match the money supply with economic growth and prices.

A moderate rebound in prices will be promoted, while keeping prices at a reasonable level, and there should be a steady decline in the costs both of corporate financing and credit for individuals, the PBOC said today.

Meanwhile, the yuan exchange rate will be held steady at a reasonable and balanced level, and efforts will be made to correct procyclical behavior.

For the real estate sector, the central bank said it is necessary to fully understand the recent changes in supply and demand in the market, while using financial policies and other measures to promote stable development of the sector.

Large banks will be guided to work as the main force in providing financial services for the real economy, and small and mid-sized lenders will be encouraged to focus on their core business. Banks should also work to replenish their capital, and cooperate to maintain the stable development of the financial market.

In addition, policies will be rolled out to improve risk prevention amid opening of the finance sector, and to promote the healthy development of the platform economy, the PBOC said.

Editor: Tom Litting