Xinhua News Agency reports Ma Jun, chief economist of the research department within the PBOC, said there is no need to introduce large-scale stimulus as the Chinese economy enters a “new normal”:

  • Speaking at the World Economic Forum
  • Said China’s employment conditions are better despite slower GDP growth
  • The government is less worried that slower growth will send the unemployment rate higher and cause social instability
  • Said room for the Chinese economy to boost leverage ratios is smaller, noting its M2/GDP ratio may be lower than some developed countries but is higher than those of most developing countries

via MNI