February 26, 2016 / 1:15 AM / in 2 years

China's economic fundamentals remain sound: cenbank

SHANGHAI (Reuters) - China’s economic fundamentals remain sound, the country’s central bank said in a statement on Friday as global markets fret over slowing growth in Asia’s powerhouse.

China's central bank governor Zhou Xiaochuan answers a question at a news conference during the annual session of the National People's Congress (NPC), the country's parliament, in Beijing, March 12, 2015. REUTERS/Jason Lee

In a statement handed out at a central bank press conference held on the sidelines of a G20 meeting of central bank governors and finance ministers in Shanghai, the People’s Bank of China also said there are positive signs in the economy.

Central bank governor Zhou Xiaochuan said earlier that China still has more room and tools in its monetary policy to tackle downward pressure in the economy, and its fiscal policy will be more proactive.

Reporting By Kevin Yao; Writing by Anne Marie Roantree; Editing by Shri Navaratnam

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