China would maintain a moderately loose monetary policy to support economic growth, People's Bank of China (PBOC) reiterated in its second quarter monetary policy report published on Thursday.

There had been positive changes in the economic situation, but the foundation of a recovery was not stable and many uncertainties remained, especially that the international economic trend is far from clear and external demands fall sharply, the monetary policy committee said in a statement on the PBOC website.

China's gross domestic product (GDP) grew 9% in the third quarter of 2008, but growth then slumped to 6.8% in the fourth quarter and further to 6.1% in the first quarter of 2009.

China's exports plunged in May for a seventh month as the global economic crisis buffeted trade, while imports also fell sharply, China's customs agency released on June 11.

The committee said it would carry out a series of plans to cope with the global financial crisis and reinforce the domestic demand pull to boost the economic growth.

The National Bureau of Statistics posted an article on its website on Tuesday, in which the economy was estimated to have grown 8% in the second quarter of 2009.

The PBOC committee said it would maintain continuity and stability in monetary policy and guide reasonable growth in money supply and credit.