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Reuters

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.
Growing property bubble is China economy’s biggest risk, warns Bank of China economist
“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.

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.”


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

epa05573345 Deputy Governor of the People's Bank of China Yi Gang attends the CNN Debate on the Global Economy at World Bank Group Headquarters in Washington, DC, USA, 06 October 2016. The 2016 Annual meetings of the International Monetary Fund and World Bank Group take place between 07 and 09 October. EPA/SHAWN THEW

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