Regions

Structural adjustments needed for China’s economic growth

August 27
12:43 AM 2013

Zhu Guangyao, China's Vice Finance Minister, said on Tuesday that structural adjustments can support China's growth. He further stated there was no need for the Chinese government to stimulate the world's No. 2 economy. Despite a severe economic environment faced by China, Zhu believed the country would be able to keep economic policies stable.

As a speaker at a briefing ahead of the G20 meeting in Russia next week, Zhu also said that the U.S. must consider when and how fast it will moderate its loose monetary policy.

The focus of next week's G20 meeting would be the issue of how nations would cope as developed economies tighten their monetary policy, said Central Bank Deputy Governor Yi Gang. He further stated, "On monetary policy, the focal point will be on how to minimize the external impact when major developed countries exit or gradually exit quantitative easing, especially causing volatile capital flows in emerging markets and putting pressures on emerging-market currencies."

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