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China to broad money supply growth in 2017 by 12%
(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."
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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