China chooses surgical strikes as focus of its monetary easing

Hong Kong

AFTER years of emergency policymaking by counterparts in the US, Japan and Europe, it's the People's Bank of China's (PBOC) turn to innovate.

Unlike the US Federal Reserve, Bank of Japan (BOJ) and European Central Bank (ECB) - which unleashed unprecedented quantitative easing (QE) through central government bond purchases to revive credit growth - the PBOC is pursuing a more measured approach.