China Has More Pro-growth Policies amid Fed Tightening: Paper

China can make more use of its advantages having effective epidemic control and large policy space to maintain the momentum of growth even as the U.S. tilts toward a tighter monetary policy, wrote Guan Tao, the chief global economist of BOC International and a former forex regulatory official in a commentary on Yicai.com. The central bank should further increase the flexibility of the yuan, as freer two-way movement helps absorb internal and external shocks and balance the market, said Guan. China should also continue to prudently promote the two-way opening of its financial sector and guide companies to better manage currency exchange risks and foreign debt repayment, Guan added.