China’s Deflation Pressures Are ‘Temporary,’ PBOC Adviser Says

Signs of deflation in China are only transitory, an adviser to the country’s central bank said despite a worsening drop of consumer prices.

“On the issue of deflation, we can only say that China is seeing a little bit of signs of that, and I think it’s temporary,” said Wang Yiming, a member of the People’s Bank of China’s monetary policy committee, at the Caixin summit in Beijing on Friday. “It’s not yet deflation in a strict sense.”