China is experiencing its slowest growth in 25 years, but the government is still holding fire on its giant stimulus bazooka, according to CNN.

"I personally expect that for now, we will continue to adopt a relatively prudent monetary policy, as long as there are no major international or domestic financial crises," Zhou Xiaochuan, governor of the People's Bank of China, said in a press conference on Saturday.

Zhou said he expected China to be able to reach its economic growth target for the year -- a 6.5% to 7% expansion of gross domestic product for 2016 -- without taking drastic action.

"We can achieve this goal without having to take additional measures," he said.

China, the world's second-largest economy, enjoyed breakneck growth over the years by investing in infrastructure and boosting exports. Whenever a hint of a downturn was hovering around the corner, the government would typically order credit lines open to funding more projects to boost the economy.

Experts have known for a long time that China's growth would slow. It had to weaken, in fact, as Beijing began launching reforms designed to shift the economy away from manufacturing, to one powered by consumer spending. Last year, China's gross domestic product expanded by 6.9%, its worst pace in a quarter of a century.

Billions of dollars have been pouring out of China in recent months as its economy has slowed and its currency has weakened. These so-called capital outflows have put even more downward pressure on the yuan, and Beijing has been trying to balance that by using its foreign currency reserves to buy more yuan.

The country's foreign exchange reserves shrank by about $29 billion in February to $3.2 trillion. That decline is much less steep than the alarming drops of $99.5 billion in January and $108 billion in December.