People's Bank of China Governor Pan Gongsheng quoted in state-backed financial media Securities Times
- Shifting economic growth model is more important than pursuing high growth rate
- China's economy continues to improve, 5% growth target expected to be successfully achieved
- China's economic growth momentum improves recently, production and consumption recover steadily, employment and consumer prices stable
- Monetary policy will pay more attention to cross-cyclical and counter-cyclical adjustments in next stage
- Will always keep prudent monetary policy, support stable growth of real economy
- Will provide a good monetary and financial environment to stabilize price, promote economic growth and expand employment
Sticking to the line of 5% growth going to be done. The PBOC this year have not unleashed huge stimulus, same for fiscal authorities. Debt-fuelled growth in China is not something they want to add to ... although other growth engines are slowish.