China should fine-tune its fiscal.......>

CHINA PRESS: China should fine-tune its fiscal policy and monetary policy in the

second half of the year, said Liu Yuanchun, vice President of Renmin University

in an interview with 21st Century Business Herald. 

  - Local governments should invest in more projects and adjust the rules of

special transfer payments, accelerating the pace of fiscal expenditure in the

second half of the year, Liu said. 

  - With the decline in the overall savings rate, over-reliance on fiscal policy

may result in credit overdrafts for local governments, Liu added. The monetary

policy needs to return to a real neutral and steady level as M2 and social

financing data have been seen slightly tight, Liu added.