China's central bank pledges measures in 2023 to bolster upturn

BEIJING, Jan. 4 (Xinhua) -- China will implement its prudent monetary policy in a targeted and efficient manner, and will ramp up financial support to domestic supply and demand, in a bid to shore up economic recovery in 2023, the country's central bank said Wednesday.

On top of maintaining sufficient liquidity through a combination of multiple policy tools, the People's Bank of China said it will work to reduce financing costs for market entities and help expand consumption, according to a statement released after a work meeting for the coming year.