THE government will maintain a prudent, flexible and targeted monetary policy in the second half of the year, the People’s Bank of China (PBOC) said Saturday, as it seeks to support growth while keeping the digital economy in check.

The People’s Bank of China (PBOC), in a statement on its website Saturday after a meeting on its priorities for the second half of the year, called for “rectifying” e-commerce and other tech companies and said it would “maintain a high level of pressure” on firms speculating in digital currencies.

China will adhere to a prudent monetary policy that is flexible, reasonable and appropriate, and comprehensively use a variety of monetary policy tools to maintain sufficient liquidity over the second half, and will not inject massive liquidity through “flood-like” measures, the bank said.

The central bank reiterated that China will keep the yuan exchange rate stable within a reasonable and balanced range.

The PBOC said it will supervise and guide platform companies to make comprehensive rectifications in accordance with regulatory requirements, and maintain high pressure on virtual currency trading, according to the statement.

The country will continue to guard against major financial risks and improve green financial system by implementing carbon emission reduction supporting tools.

Meanwhile, it will deepen financial reforms and opening up in key areas, and continue to promote the internationalization of the yuan, and develop the offshore yuan market, said the statement.

The country will carry out high-level pilots for cross-border trade and investment. It will expand the pilot program of trade balance facilitation and support more regions, especially the central and western regions.

(SD-Agencies)