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China Should Keep Macro Policies Stable: Former FX Off’l

CHINA PRESS

China should maintain macro policy support at current levels as major changes to monetary and fiscal conditions may affect government-led investment, which is a manigrowth driver, China Business News reported Monday, quoting Guan Tao, a former head of Department of Balance of Payments at SAFE. Given that both consumption and private investments contracted in the first 8 months of the year, withdrawing macro support policies now can negatively affect the business environment and market expectations, wrote Guan. China should also carefully consider countercyclical policies to manage the sudden shift to expansion from contraction, Guan wrote in the article.

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