Central bank issues economy overlook

China's central bank says it expects the country's economic growth to top 11 percent this year. It adds that consumer price inflation is expected to average about 4.5 percent this year.

The central bank made the predictions in its third-quarter monetary policy report released Thursday. In the report, the People's Bank of China says it's planning to further tighten macro-controls and adopt moderately tight monetary policies to help rein in China's overheated economy. It will strengthen liquidity management in banking systems and improve the country's exchange rate system.

It says the reasons behind China's excess liquidity are mainly due to the increasing trade surplus, high deposit rate but low consuming rate. The report also says it's important for the bank to press ahead with pricing reforms for natural resources, including oil and water.

Editor:Xiong Qu