China pledges flexible policy, yuan reforms

BEIJING Thu May 9, 2013 7:09am EDT

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BEIJING May 9 (Reuters) - China's central bank said on Thursday that it will increase policy flexibility to support the economy while pushing reforms to make the yuan more responsive to market forces.

In the first quarter monetary policy implementation report, the People's Bank of China pledged to ward off inflationary risks even though the country's economic recovery was not solid, it said.

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