PBOC Sees More Steps to Boost Growth But Nothing ‘Drastic’

China’s central bank chief pledged further steps to support his nation’s economic recovery, while cautioning that it won’t be adopting “drastic” measures.

Chinese state media published a pair of interviews with People’s Bank of China Governor Pan Gongsheng on Thursday after key indicators for July suggested the country’s economic growth remains lackluster. Retail sales gains remained subdued, while investment growth weakened — underscoring a faltering in domestic demand amid a prolonged downturn in the housing market.