PBOC will push through with reforms

Also intends to keep policy steady with timely fine-tuning.

The People's Bank of China, the central bank, said it would keep policy steady to cope with economic uncertainties while advancing renminbi and interest rate reforms.

It noted China's economic performance and inflation remained stable but there would be difficulties and challenges ahead. While maintaining prudent monetary policy, PBOC will make preemptive and timely policy fine-tuning. The central bank also promised to push forward market-oriented interest rate reforms and improve the currency regime.

It also intends to keep the renminbi exchange rate stable. Beijing has stepped up efforts to prevent a sharp economic slowdown by quickening railway investment and public housing construction and introducing measures to help smaller companies.