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
Topic |   China economy

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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
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China’s central bank has for the first time disclosed details of the China-US trade talks involving the yuan exchange rate. Photo: Xinhua

China has made a clear effort to keep yuan exchange rate stable, says central bank

  • People’s Bank of China governor Yi Gang says Beijing will not devalue yuan to boost exports or ease trade tensions amid the US-China trade war
  • China’s foreign exchange intervention has long been a political target in the United States and Donald Trump vowed to declare China a currency manipulator in 2016
Topic |   Two Sessions 2019 (Lianghui)

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China’s central bank has for the first time disclosed details of the China-US trade talks involving the yuan exchange rate. Photo: Xinhua
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