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China Normal Growth Needs Only Minor Policy Changes: Zhou

China’s central bank chief said the nation needs only minor policy adjustments when growth is within a normal range, adding to signals that the government will avoid taking broader action to counter a slowdown.

The State Council has a target for about 7.5 percent growth and has studied the range, and “we don’t have to roll out significant policies” when growth is in a normal range, People’s Bank of China Governor Zhou Xiaochuan said today in Boao, China. “If growth diverts from the range, we’ll use monetary policy fine-tuning or perhaps a slightly bigger adjustment.”