China will step up the implementation of the monetary policy that has been put in place, the central bank said at a regular meeting on Thursday.

The People's Bank of China (PBOC) will keep liquidity reasonably ample and guide the reasonable growth of credit, it added.

China will also resolutely guard against the risk of exchange rate overshooting and keep yuan basically stable, PBOC said.

(Reporting by Kevin Yao and Ella Cao in Beijing, Twinnie Siu in Hong Kong. Editing by Jane Merriman)