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“China needs a relatively loose monetary condition”, said PBOC Governor Yi Gang

Yi Gang, governor of the People's Bank of China, delivered a keynote speech on Thursday about China's monetary policies, private companies' financing and the country's financial risks.

The central banker said Chinese economy is currently in an economic downturn and needs a relatively loose monetary condition, but it can't be too loose, otherwise "it will bring pressure to the foreign exchange rate and a balance needs to be found between internal factors and external factors."

Yi Gang said that the monetary policy needs to be adjusted flexibly based on changes in a country's economic situation . . .

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