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MNI BRIEF: China's Top Mission To Boost Econ-Ex-PBOC Advisor

MNI (Singapore)
SINGAPORE (MNI)

China should place top priority on bailing out the economy, and the central bank needs to be cautious while widely using its structural monetary tools, said Huang Yiping, a former adviser to the PBOC said on Saturday at an economy forum.

“It is time to take whatever policy (actions) we could to save the economy,” he said, noting many companies and households are suffering a liquidity crunch in the third year of the anti-Covid-19 campaign. The PBOC may have to tighten capital management in a bid to leave more room for policy independence as it faces three major difficulties, the Covid-19 disruptions, the war in Ukraine and Fed tightening, he suggested, requiring a focus on cross-border measures.

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