China will stick with a 'tight' monetary policy as the increasing pressures of inflation and economic overheating, said nation's central bank chief Zhou Xiaochuan.
He is also optimistic of China's continuous fastest-growing despite global slowdown and currency climbing.
China needs to focus on the pace, focus and magnitude of macro-economic controls to avoid large fluctuations and maintain stable and relatively fast economic growth, the governor of People's Bank of China said Sunday, during the International Monetary Fund(IMF) spring meetings in Washington.
Zhou also said that Chinese exchange rate would be benchmarked against a basket of currencies and not the dollar alone, which means let the markets dominates the Chinese exchange rate.
According to IMF's annual statement announced on 9th,China's economic growth in the next two years will be 9.3 percent and 9.5 percent. The People's bank of China governor said he was confident China's 2008 economic growth would exceed IMF's forecast.