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China not to resort to flood-like stimulus – Premier Li Keqiang

China has not and will not change its prudent monetary policy and will not resort to “flood-like” stimulus, Premier Li Keqiang said on Wednesday at an executive meeting of the State Council, the country's cabinet.

In a rare case, Premier Li responded to market doubts over the record credit growth in January and pointed out risks reflected in it.

"While the latest data showed that the total social financing increased significantly in January, a deeper analysis showed that the surge was primarily attributable to the increases in bill financing and short-term loans, which could create room for . . .

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