CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: China Should Lift Consumption Support - Ex Adviser

MNI (Singapore)
(MNI) Beijing

China's policymakers should increase support to boost consumption and enhance public welfare rather than just focus on infrastructure investment that aren't sustainable and a key driver of growth, said Huang Yiping, economics professor at Peking University and former member of the PBOC's monetary policy committee.

Both monetary and fiscal policies should work to raise the contribution of consumption to GDP from 55% currently to about 75%, which provides powerful support to the economy as the ageing population drags on demand and as exports lose steam, he said on Friday at the 13th Caixin Summit.

Consumption is a decisive factor in China’s proposed transformation of its growth pattern and implementation of its inner-circulation strategy, which is focused on domestic demand, Huang noted.

His comments align with the PBOC’s Q3 monetary policy report, in which the central bank stressed it will push reform of the loan prime rate in a bid to lower costs for personal loans used for consumption.

Central Bank NewsPolicy NewsPBOCFiscalGovernment sectorAPACChinaBriefStoryRegion
True
Central Bank NewsPolicy NewsPBOCFiscalGovernment sectorAPACChinaBriefStoryRegion
True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.