China central bank says to implement monetary policy more creatively

The Chinese national flag flies at half-mast at the headquarters of the People's Bank of China, the central bank (PBOC), as China holds a national mourning for those who died of the coronavirus disease (COVID-19), on the Qingming tomb-sweeping festival in Beijing, China April 4, 2020. REUTERS/Carlos Garcia Rawlins

HONG KONG (Reuters) - China will have to cautiously control the pace of its financial adjustments and implement monetary policy more creatively, its central bank said on Monday, after the coronavirus pandemic hit China’s economy as it was in a downward cycle.

The central bank will implement measures for macroeconomic management during this unusual time in order to stabilise economic growth and maintain employment, it said in a statement.

Reporting by Meg Shen in Hong Kong and Colin Qian in Beijing, Editing by Catherine Evans