PBoC Governor Pan Gongsheng
- Will focus on striking a balance between short-term and long-term objectives, between growth stabilization and risk prevention
- China will improve the mechanism for forestalling and defusing systemic risks
- China will place greater emphasis on the use of price-based tools such as interest rates
- Will gradually shift away from a focus on quantitative targets
- China will adhere to supportive monetary policy
China home price data today was grim and the steel industry there is sending some big warning signs. For all the excitement about US consumers today, China is leaning in the other direction.
