Workers spread incense sticks to dry after dyeing them at a workshop in Quanzhou in Fujian province, in March. China’s central bank cut the reserve requirement ratio in a bid to encourage lending to small and medium-sized enterprises. Photo: Reuters

China’s monetary policy loosening is a sign that the central bank is gearing up for a fight

Aidan Yao says the People’s Bank of China looks set to do some heavy lifting in the coming months and investors can expect tough times ahead

Topic |   China economy

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Workers spread incense sticks to dry after dyeing them at a workshop in Quanzhou in Fujian province, in March. China’s central bank cut the reserve requirement ratio in a bid to encourage lending to small and medium-sized enterprises. Photo: Reuters
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Aidan Yao

Aidan Yao

Aidan Yao is senior emerging Asia economist at AXA Investment Managers. Prior to joining AXA IM, he was a senior financial market analyst at the Hong Kong Monetary Authority for two years. He started his career at the Reserve Bank of New Zealand in 2007, serving as an economist and later senior financial market analyst until late 2011. He holds a master degree in finance (2006) and a bachelor degree in economics and finance (2005) from the University of Otago (NZ). He is also a chartered financial analyst.