China Stimulus to Make ‘Big Impact,’ Ex-PBOC Official Says
- Zhu Min tells BTV that new package is ‘sectorial, earmarked’
- Predicts economy will expand between 4.5% and 5% in 2024
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The stimulus plan that China just rolled out will boost new areas of the economy while avoiding funneling money into the troubled property sector, according to a former central bank official.
“The package is not huge or big but I think the impact will be big because it focuses on the climate-change issue” and other areas that will become “competitiveness sectors” for the world’s No. 2 economy, said Zhu Min, a former deputy governor of the People’s Bank of China who also served as a deputy managing director of the International Monetary Fund.