Beijing in policy about-turn as stocks dip


The People's Bank of China sought to soothe investor fears on Thursday by saying that it would look to "consolidate the economic recovery" through its monetary policy.

Su Ning, a vice governor at the central bank, said that the institution "will unswervingly continue to apply appropriately loose monetary policy and consolidate the economic-recovery momentum."

Su made the comments at the central bank's branch in Shanghai, the location of China's benchmark stock index, the Shanghai Composite Index

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