The PBOC is unlikely to change the......>

CHINA PRESS: The PBOC is unlikely to change the loosening bias of its monetary

policy because the recovering economy still requires an abundance of liquidity,

according to Ming Ming, a former PBOC advisor in a report on Tuesday. Ming said

another factor against a change in PBOC policy was the accelerated issuance of

Chinese government and local government bonds which need a low interest rate

environment. Ming pointed to wording by the PBOC's monetary committee in the Q1

regular meeting in which they spoke of "keeping the gate of general money supply

instead of allowing a deluge of liquidity" as confirmation of the marginal

tightening of monetary policy in the first quarter. This does not indicate a

shift of the policy bias, Ming said.