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No flood-like stimulus next year, but there remains room for RRR cut, said PBOC advisor

China will not resort to "flood-like" stimulus in monetary policy next year, but it will consider more cuts to commercial banks’ reserves, said a central bank adviser on Tuesday.

"Monetary policy will remain prudent and there won't be a 'flood', otherwise, funds will flow into the real estate sector again," said Sheng Dongcheng, an advisor to the People's Bank of China, in an interview with the 21st Century Business Herald.

“The Central Economic Work Conference last week has made it very clear that it will maintain prudent monetary policy next year,” said Sheng. "We have to prevent . . .

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