(MENAFN) Chinese policy sources said that the government plans to broad money supply growth of around 12% in 2017, slightly lower than last year's goal.
As the People's of Bank of China (PBOC) had adopted a modest tightening bias in a bid to cool torrid credit expansion, it was treading cautiously to avoid hurting the economy.
According to the source who advised the government, he said: "It's not necessary to maintain last year's high money supply growth."
And he added: "A money supply rise of 11% should be enough for supporting growth, but we probably need to have some extra space, considering risks in the process of deleveraging."
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