China should advance and strengthen fiscal and monetary policies, focusing on stabilising employment and prices and spurring domestic growth to offset expected weaker external demand, wrote Guan Tao, former forex official and chief economist at BOC Securities in a blog post. Monetary policy faces challenges when prices rise amid growing imported inflation driven by the Russia-Ukraine conflict, said Guan. The monetary authority should maintain the flexibility of the yuan while keeping it at a reasonable equilibrium level and absorbing internal and external shocks, said Guan.
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