China should step back from battle against financial risks for now, rethink growth target – former PBOC advisor
China should step back from battle against financial risks for now, rethink growth target – former PBOC advisor

China should step back from battle against financial risks for now, rethink growth target – former PBOC advisor

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

Yu Yongding, a prominent economist in China and former central bank advisor, said on Friday that China should shelve its “critical battle” against financial risks and consider absorbing the losses of small enterprises hit by the new coronavirus.The government should cut interest rates, rethink its growth target for this year and use an even more expansionary fiscal and monetary policy than ordinarily needed to reach 6 per cent annual growth, said Yu Yongding. Banks should roll over loans and postpone repayments if necessary to allow enterprises to survive this crisis, he said.

“Debt, inflation, bubbles -- those . . .

Sign In or Subscribe To Get Full Access.

 

Everything on The Wire.

We Cover China Market In Real-Time Mode. Follow Us To Stay Updated!

 

TRY FOR FREE. 

Subscribe Now! 

Easy Cancel Anytime

 

Not ready for full subscription?

Sign Up For Free Weekly China Market Highlights HERE!