Economics
PBOC Adviser Calls for Growth-Boosting Policy Amid Yuan Risk
- Growth above 5% in second quarter key to full-year goal: Wang
- Former officials also warn of impact of Fed’s rate hike plans
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China must take stronger action to boost growth above 5% in the second quarter, said a central bank adviser who warned the country needs to lay a foundation for achieving its full-year target in the face of rising economic risks.
Reaching that benchmark in the April-to-June period is critical if China is to meet a government gross domestic product growth target of about 5.5% for all of 2022, said Wang Yiming, a member of the monetary policy committee of the People’s Bank of China. Wang was speaking Sunday at a forum in Beijing, according to the Securities Times.