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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

Published Sun, Mar 13, 2016 · 09:50 PM
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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 conference in Beijing on Saturday, referring to China's plan for at least 6.5 per cent growth over the next five years. "If there isn't any big economic or financial turmoil, we'll keep prudent monetary policy."

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