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China Should Normalise Economic Growth ASAP - PBOC Advisor

CHINA PRESS
MNI (Singapore)

China should aim to bring economic growth back to normal as soon as possible, with the recovery of consumption particularly important amid weakening external demand which could slow exports and manufacturing investment growth next year, Caixin reported citing Wang Yiming, a member of the People’s Bank of China’s Monetary Policy Committee. It is necessary to release the spending potential of 460 million families, as it will be difficult to maintain the supply-demand balance if consumption is not supported as exports fall, said Wang. Next year’s monetary policy should continue to be prudent, tilted to loosening, and maintain reasonable and ample liquidity, Wang added.

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China should aim to bring economic growth back to normal as soon as possible, with the recovery of consumption particularly important amid weakening external demand which could slow exports and manufacturing investment growth next year, Caixin reported citing Wang Yiming, a member of the People’s Bank of China’s Monetary Policy Committee. It is necessary to release the spending potential of 460 million families, as it will be difficult to maintain the supply-demand balance if consumption is not supported as exports fall, said Wang. Next year’s monetary policy should continue to be prudent, tilted to loosening, and maintain reasonable and ample liquidity, Wang added.