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China does not need excessive stimulus, says PBOC chief

But latest data shows otherwise - industrial production and retail sales less than forecast; sharp drop in new credit

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Mr Zhou said China faces "relatively big" downward pressure from efforts to eliminate excess housing inventory, which may suppress prices nationwide.

Beijing

PEOPLE'S Bank of China governor Zhou Xiaochuan said major stimulus isn't needed to support growth even as the latest batch of economic indicators suggested otherwise.

"Excessive monetary policy stimulus isn't necessary to achieve the target," Mr Zhou said at a press

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