China economy
Get more with myNEWS
A personalised news feed of stories that matter to you
Learn more
People’s Bank of China Deputy Governor Yi Gang speaks during the 2016 Annual Meetings of the International Monetary Fund and the World Bank Group in Washington, DC. Photo: AFP

UpdateChina to pursue consumption-driven economy: PBOC’s Yi

China will continue to use monetary, fiscal and structural reform policies to boost infrastructure investment and transform the country’s economy into a consumption-driven one, People’s Bank of China Deputy Governor Yi Gang said on Thursday.

“If that transformation is successful, China will continue to have a stable share of global growth,” he said while participating on a panel at the International Monetary Fund and World Bank meetings in Washington.

Deputy Governor of the People's Bank of China Yi Gang. Photo: EPA

Yi added that China’s economy was more stable now and would continue to contribute its share of global growth.

“If I use one word to describe the Chinese economy now, it is more stable,” Yi said. “I have more confidence in the stability of the Chinese economy now than before. I think the GDP continues to grow from (the) 6.5 per cent to 7 per cent range, and also employment is good.”