People's Bank of China Governor Yi Gang says that he expects economic growth to return to potential in 2022 and will keep accommodative monetary policy flexible.

Earlier in the day, China reported its Consumer Price Index, a main gauge of inflation, rose 0.9 percent year on year in January, down from the 1.5-percent increase a month ago, the National Bureau of Statistics said Wednesday. The core CPI, which excludes food and energy prices, gained 1.2 percent year on year, flat with a month ago.