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China ready to trade growth for stability: central bank chief
If govt pursues too high growth rate, it may ignore or postpone structural reforms, he says at WEF
Add BT as a preferred sourcePublished Wed, Jan 21, 2015 · 09:50 PM
Beijing
A DAY after China said its economy expanded at the slowest rate in 24 years, its central bank governor expressed willingness to sacrifice growth for stability.
"If China's economy slows down a bit, but meanwhile, is more sustainable for the medium and long term, I think that's good news," Zhou Xiaochuan, who started as People's Bank of China (PBOC) governor in 2002 when Alan Greenspan was still Federal Reserve chairman, said at the World Economic Forum in Davos on Wednesday. China is willing to take "a bit lower growth rate with stronger structural reform", he said.
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