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Former PBOC advisor calls for both fiscal and monetary easing to boost economy

Chinese government has adopted to a raft of measures to boosting the slowing economy, including pushing for more infrastructure constructions, increase and accelerating bond issuance, cut taxes etc. So far most efforts are from the fiscal side. Officials from the central bank has clarified in several occasions that China will not resort to "significant monetary loosening" and the market should not expected money "flood" like in 2008.

However, Yu Yongding, a former member of the Monetary Policy Committee of the People's Bank of China and member of China's top state think tank-Chinese Academy of Social Sciences thinks . . .

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