Major Stimulus for China Is Not Needed, PBOC Adviser Says
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Chinese central bank adviser Xia Bin said that the nation’s growth is “sound” and he doesn’t believe that the government needs to implement any “major” stimulus measures.
He spoke in an interview in Beijing today after the government announced yesterday that growth slowed to 9.1 percent in the third quarter, the slowest pace in two years. The central bank should stick to its “prudent” monetary policy, he said.