PBOC Adviser Gives Rare Critique of China Economic Policies
- Huang advocates setting hard target to bring inflation to 2-3%
- Economy is ‘easy to cool but difficult to heat up,’ Huang says
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An influential Chinese central bank adviser delivered a rare critique of his nation’s economic policy, urging the government to set a compulsory target for inflation and step up spending to address weak consumption.
Authorities should change their strategy of “focusing on investment and neglecting consumption,” said Huang Yiping, a member of the People’s Bank of China’s monetary policy committee, according to an article published this week, which cited his earlier speech in May.