MNI BRIEF: China Monetary Policy Appropriate For Now: Advisors

China's current monetary policy is appropriate with inflation and asset prices under control, although it is likely to play a secondary role to fiscal policy ahead, policy advisors told at a meeting hosted by the China Macroeconomy Forum Wednesday.

Policy has been a case of "so far so good" with some room for future easing if needed, said Wu Ge, a former official at the People's Bank of China.

Liu Yuanchun, vice dean of the Renmin University of China and an appointed advisor to the State Council, agreed that it is unnecessary for the central bank to use the super easing and unconventional monetary policy tools adopted by the U.S, as Beijing still has plenty of policy space to utilise. Liu added that the independence of monetary policy will be weakened in the future, having to coordinate to a greater degree with fiscal policy to serve strategic planning including major infrastructure projects, technology innovation, green development, and inclusive finance.