SHANGHAI -- China will continue to keep its monetary policy accommodative and strengthen counter-cyclical and inter-temporal adjustments, the central bank governor said Wednesday.

The move will help facilitate economic recovery and create a favorable monetary and financial environment for economic and social development, said Pan Gongsheng, governor of the People's Bank of China, at the 15th Lujiazui Forum.

Looking ahead, while undergoing continued recovery, the Chinese economy is still confronted with some challenges, as the effective demand is still insufficient; there are blockages to domestic economic circulation, and the complexity, severity, and uncertainty of the external environment have risen significantly, he said.