PBOC Gov says will keep monetary policy prudent, support stable growth for real economy

People’s Bank of China Governor Pan Gongsheng quoted in state-backed financial media Securities Times

  • Shifting economic growth model is more important than pursuing high
    growth rate
  • China’s economy
    continues to improve, 5% growth target expected to be successfully
  • China’s economic
    growth momentum improves recently, production and consumption recover
    steadily, employment and consumer prices stable
  • Monetary policy will
    pay more attention to cross-cyclical and counter-cyclical adjustments
    in next stage
  • Will always keep
    prudent monetary policy, support stable growth of real economy
  • Will provide a good
    monetary and financial environment to stabilize price, promote
    economic growth and expand employment

Sticking to the line of 5% growth going to be done. The PBOC this year have not unleashed huge stimulus, same for fiscal authorities. Debt-fuelled growth in China is not something they want to add to … although other growth engines are slowish.

This article was written by Eamonn Sheridan at www.forexlive.com. Source