Skip to content
Subscriber Only

PBOC’s Zhou Says China's Past Makes Officials Favor Intervention

  • 'Interpretations of market ineffectiveness are more likely.'
  • PBOC's Yi says China should avoid too-loose monetary policy
Video player cover image

PBOC's Zhou Explains China's Market Interventions

Updated on

People’s Bank of China Governor Zhou Xiaochuan, ending a months-long period without speaking publicly, said the country’s past makes its policy makers more likely to want to intervene when officials perceive markets are in trouble.

"Because our country is moving from a centrally planned economy to a market economy, because of our way of thinking, interpretations of market ineffectiveness are more likely," Zhou said at a forum with other top economic officials in Beijing Friday. "To address this ineffectiveness, the government should play a bigger and better role."