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China needs to consider policy adjustments but cannot make hasty moves - vice gov

BEIJING, Nov 6 (Reuters) - China’s central bank vice governor said on Friday that China needs to consider policy adjustments as its economy recovers, adding that the adjustments will be based on accurate economic assessments, and the authorities cannot make hasty moves.

To help support the economy, China’s financial institutions gave up 1.25 trillion yuan ($188.65 billion) in profits in January-October - by lowering interest rates and fees - and is on track to reach an expected target of 1.5 trillion yuan this year, Liu Guoqiang, vice governor of the People’s Bank of China, told a news briefing.

$1 = 6.6259 Chinese yuan renminbi Reporting by Kevin Yao and Lusha Zhang; Editing by Jacqueline Wong