Without a complete tightening of monetary policy, the impact of government regulations could be neutralized by infrastructure investment with financail support, it said.
PRUDENT AND NEUTRAL MONETARY POLICY AGAINST RISKS
The conference defines China's monetary policies for 2017 as "prudent and neutral", promising better adjustments to ensure stable liquidity.
Monetary policymaking should adapt to changes in the use of money supply tools, and further efforts are needed for smoother policy transmission, it said.
China will keep the yuan basically stable, while improving the flexibility of exchange rates.
"The stance shows the government is trying to find a subtle balance between stabilizing growth and controlling asset bubbles," noted Hong Hao, chief China strategist at BOCOM International.
Earlier, a Standard Chartered Bank report predicted financial and monetary policy instruments available to the Chinese government would suffice to support China's growth in the coming years.
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