Press "Enter" to skip to content

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

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

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 . . .

To continue reading, please subscribe. You will get

 

  • IN-DEPTH & DATA-DRIVEN reporting about key trends in China's economy and financial markets
  • DETAILS MATTER - we bring you details that you won't find elsewhere
  • THE WIRE  - up-to-the-minute updates of market-moving news and views
  • DAILY BRIEF - daily newsletter to give you a quick overview of the most important business news every day.

FREE TRIAL cancel anytime

LIMITED-TIME OFFER - 40% OFF

 

We highly value independence. We are solely funded by subscriptions from intelligent readers like you. 

Already have an account? Sign In

Top