No need for strong stimulus, says PBOC economist

Shanghai

CHINA'S employment situation is good and progress has been made in structural adjustments, so there is no need for strong stimulus for the economy despite downward pressure, the central bank's top economist said.

"The central bank's recent lowering of rates and reserve requirements was mainly to prevent passive tightening of monetary policy and to maintain a neutral or steady monetary policy," the People's Daily newspaper quoted Ma Jun, chief economist of the People's Bank of China (PBOC), on Monday as saying.