The People's Bank of China, the central bank, reiterated Friday the adherence to a moderately easy monetary policy and continual implementation of the economic stimulus package.

The bank said the propelling of a stable and relatively fast economic development would continue to be the top priority of the financial macro control in the latter half of this year, and the policy would be "consistent" and "stable".

The bank also said it will use a set of monetary policy mix to coordinate a "reasonable" credit structure based on market rules, and to make loan extensions more sustainable.

Chinese banks lent a record 7.37 trillion yuan in the first half to shore up the economy, which sank to 6.1 percent in the first quarter.

The central bank reiterated the new credit should nurture real economy, and should be conducive to both the economic growth and industrial restructuring.

It asked local lenders to give equal financial support to infrastructure construction, technology innovation and small business.

On Thursday, Chinese President Hu Jintao and Premier Wen Jiabao said the country should stick to its proactive fiscal policy and moderately easy monetary policy to ensure a stable economic growth as the recovery is not yet solid.

Chinese economy rebounded to grow 7.9 percent in the second quarter driven by a surge of fixed-asset investment backed by government's 4-trillion-yuan stimulus package.

(Xinhua News Agency July 24, 2009)