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No big stimulus for China's economy

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SHANGHAI, China — The head of China's central bank said on Wednesday that the economy still faced many challenges but warned authorities would not resort to huge stimulus measures and instead exercise moderation.

SHANGHAI, China — The head of China's central bank said on Wednesday that the economy still faced many challenges but warned authorities would not resort to huge stimulus measures and instead exercise moderation.The country's recovery from the impact of Covid has slowed in the months since it abruptly lifted tough restrictions in late 2022, with a property crisis and tepid consumer demand weighing on growth.

'But he said authorities would 'avoid major easing or tightening.''Protecting price stability and promoting the moderate recovery of prices will be important considerations while use interest rates, reserve requirement ratios and other policy tools flexibly,' Pan said in a speech.Beijing has set a target of around 5-percent growth this year, a figure seen as ambitious by many economists.

 

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