China monetary policy will provide favorable conditions for deleveraging: cbank official

October 10, 2016 4:05 AM EDT

A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, June 21, 2013. REUTERS/Jason Lee/File Photo

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BEIJING (Reuters) - China will maintain a prudent monetary policy with timely fine-tuning, central bank deputy governor Fan Yifei said on Monday.

Monetary policy will be neither too tight nor too loose, Fan said in a news briefing in Beijing.

Monetary policy will provide a favorable environment for deleveraging, he added.

(Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

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