People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018.

China will not resort to "flood-like" stimulus in monetary policy next year, although it will consider more cuts as needed to reserves held at commercial banks, local media quoted a central bank advisor as saying in a report on Tuesday.

The Chinese economy will face downward pressure in 2019, while the pace of growth will gradually stabilize, the 21st Century Business Herald quoted Sheng Songcheng, an advisor to the People's Bank of China (PBOC), as saying.

To ward off a sharp slowdown, China has unveiled a raft of policy measures this year, including four rounds of reserve requirement ratio cuts to boost lending, along with lower taxes and fees, and moves to fast-track infrastructure projects.

The PBOC has so far refrained from cutting benchmark interest rates, which would undermine its efforts to rein in high indebtedness and pressure the yuan currency.

The PBOC instead last week rolled out a new targeted medium-term lending facility to supply the economy with credit.

On Monday, the State Council, or cabinet, also said after a regular meeting that China would improve policies on targeted reserve ratio cuts while implementing more tax reductions.

"Monetary policy will remain prudent and won't be a 'flood'," Sheng was quoted as saying by the state-backed newspaper. "Otherwise, funds will likely flow into the property sector again."