"China’s State Council, headed by Premier Li Keqiang, pledged to improve the effectiveness of financial support for the economy after a cash crunch last month sent interbank borrowing rates to the highest on record. Misallocation of capital is hampering the restructuring of the economy and the financial sector must play a better role in helping the overhaul, the cabinet said in a seven-page statement released in Beijing today. The State Council said it will maintain its “prudent” monetary-policy stance while ensuring a reasonably supply of money and credit." (Quoted from article)