China still has more room and tools in its monetary policy to tackle the
slowdown, People’s Bank governor Zhou Xiaochuan tells G20 finance
meeting
The head of China’s central bank has dropped a strong hint that Beijing is preparing to launch another round of stimulus as he sought to reassure the financial markets about the country’s flagging economy.
China had more room and tools in its monetary policy to tackle downward pressure in the economy, and its fiscal policy would be more proactive, central bank governor Zhou Xiaochuan said on Friday.
Zhou, speaking at a conference held by the Institute of International Finance in Shanghai in conjunction with a G20 meeting of central bank governors and finance ministers, also said that the direction of China’s reforms would not change, but that the pace might change.
“While the reform direction is clear, managing the reform pace will need windows (of opportunity) and conditions ... The pace will vary, but the reform will be set to continue and the direction is not changed,” Zhou said in English.
At the same time, policy makers need to strike a balance between growth, restructuring and managing risks to the economy.
Read more: Chinese central bank chief hints at more stimulus for slowing economy | Business | The Guardian
The head of China’s central bank has dropped a strong hint that Beijing is preparing to launch another round of stimulus as he sought to reassure the financial markets about the country’s flagging economy.
China had more room and tools in its monetary policy to tackle downward pressure in the economy, and its fiscal policy would be more proactive, central bank governor Zhou Xiaochuan said on Friday.
Zhou, speaking at a conference held by the Institute of International Finance in Shanghai in conjunction with a G20 meeting of central bank governors and finance ministers, also said that the direction of China’s reforms would not change, but that the pace might change.
“While the reform direction is clear, managing the reform pace will need windows (of opportunity) and conditions ... The pace will vary, but the reform will be set to continue and the direction is not changed,” Zhou said in English.
At the same time, policy makers need to strike a balance between growth, restructuring and managing risks to the economy.
Read more: Chinese central bank chief hints at more stimulus for slowing economy | Business | The Guardian
