BEIJING – The foundation of China’s economic recovery is not solid enough, a senior Communist Party official said on Saturday, warning of possible spillover effects from global economic problems.
Such risks come as many developed countries aggressively tighten their monetary policy causing problems for banks as well as bringing foreign debt woes and financial market turmoil, he said at a government-organised China Development Forum, without naming any specific countries.“The foundation of China’s economic recovery is not yet solid enough,” Mr Han said.
China has no apparent inflation or deflation at the moment, and it has a relatively large amount of room to manoeuvre on monetary policy, he said.
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