BEIJING — China will continue to implement prudent and neutral monetary policy, according to the central bank.

The central bank will use multiple monetary policy tools to maintain stable liquidity and guide proper growth of credit and financing, according to a statement released by the People's Bank of China (PBOC) following its quarterly meeting.

The PBOC will take measures to optimize financing structure and credit structure and promote direct financing.

It will also accelerate financial reforms to improve the financial sector's efficiency and capabilities to serve the real economy.

More efforts will also be made to encourage interest rate liberalization and the reform of the renminbi exchange rate formation mechanism, according to the statement.