People's Bank of China governor Yi Gang (third left) said breaking up banking monopolies, improving bankruptcy laws and stricter enforcement of financial regulations could increase price transparency and reduce administrative fees. Photo: Xinhua
China may be banking on market reforms rather than interest rate cuts to boost growth, analysts say
- Comments by People’s Bank of China governor Yi Gang seen as giving no hint of imminent benchmark interest rate cut
- Analysts continue to see government relying on tax cuts and infrastructure spending, rather than easier monetary policy, to stabilise growth
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China economy
People's Bank of China governor Yi Gang (third left) said breaking up banking monopolies, improving bankruptcy laws and stricter enforcement of financial regulations could increase price transparency and reduce administrative fees. Photo: Xinhua