Peoples Bank of China vice-governor Chen Yulu quoted earlier today
- factors that influence financial market stability are also on the rise, especially as China experiences downward pressure
- PBOC seeking to improve monetary policy framework and close regulatory loopholes
The comments are reported by Reuters and came in an article by the Shanghai Securities News based on comments that Chen made at a financial forum in Hangzhou.
They also come in the wake of a rising concerns over the level of money that Chinese authorities are pumping into the economy. Eamonn highlighted these concerns in a post on Friday:
- new credit topped $1 trillion in the first quarter, helping GDP to expand 6.7% - still the slowest pace in seven years
- much of that money flowed into the property market, spurring concerns of a bubble
The PBOC and the Chinese economy face even more difficult days without doubt.
Enjoy the rest of your week-end one and all.
PBOC continues to pump money into the system but can it contain the risks ?
