Economics
Ex-PBOC Official Warns of ‘Huge’ Losses With Monetary Tightening
- Sheng Songcheng says policy tightening can’t curb bubbles
- Debate over central bank’s policy has roiled financial markets
Outside the People's Bank of China (PBOC) building in Beijing.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China will risk “huge economic losses” if it tries to curb asset bubbles through monetary policy tightening, a former central bank official warned, adding to a debate that’s roiled financial markets this year.
Sheng Songcheng, a former director of the People’s Bank of China’s statistics and analysis department, said closer market supervision would be better than policy tightening measures to reduce speculation in financial assets.