BEIJING - China's central bank has reiterated that it will continue to implement prudent monetary policy in 2012 while making it more targeted, flexible and foresighted to support stable and healthy economic growth.

The central bank must learn lessons from the global financial crisis to better handle the intensity, pace and focus of financial macro-control, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), said in a statement posted on the bank's website Wednesday.

He also urged further improving the formation mechanism of the yuan's exchange rate and enhancing the management of foreign exchange reserves. 

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