MNI POLICY:China Monetary Stimulus Adequate: Sina Cites Ma Jun

China should maintain its current monetary policy without increasing countercyclical adjustments given the economic recovery has been "outstanding," said Ma Jun, a member of the monetary policy committee of the People's Bank of China, according to a report published Wednesday by Sina Finance.

The economy is on track to grow 2% this year fueled by strong policy support, with Q3 and Q4 seen expanding 4% and over 6%, Ma said. China needs to save "ammunition" to prepare for future uncertainties, such as worsening relations with the U.S., risks posed by small banks and local government financing vehicles, Ma said.

M2 growth in the first half was 12% higher than nominal GDP, while in normal conditions the two rates generally match, Ma said. Since China already showed clear signs of recovery, it should refrain from further stimulus policies to prevent bubbles in sectors such as real estate and the stock market, he added.