Beijing in policy about-turn as stocks dip

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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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