China's central bank said on Friday that it would adjust the pace and intensity of policy implementation based on internal and external economic and financial situations.

The People's Bank of China, in a summary of a quarterly meeting held by its monetary policy committee, said that it would guide financial institutions to step up credit supply, and push for lowering of social financing costs.

(Reporting by Yukun Zhang, Ethan Wang and Kevin Yao. Editing by Jane Merriman)