China should not relax its capital......>

CHINA PRESS: China should not relax its capital control at present, Yu Yongding,

a researcher with the Chinese Academy of Social Sciences and a former member of

the Monetary Policy Committee, said Tuesday at a financial summit hosted by the

China Business News. One lesson China should learn from the Southeast Asia

financial crisis is that the control of capital flows should not be lifted

prematurely, Yu noted. Monetary policy should not be too tight in 2018 so as to

maintain the economic growth at around 6.5%. The government will rely more on

fiscal policy rather than  monetary policy to support economic growth next year,

while investment in the property sector will slow further and infrastructure

investment will decelerate, Yu argued. China should launch the residential

property tax as soon as possible, Yu said. (China Business News)