Reported about 1 month ago
Former People's Bank of China Governor Yi Gang has emphasized the need for China to tackle deflationary pressures that are threatening growth. Speaking at the Bund Summit, he acknowledged that declining prices have persisted for several quarters, urging the government to adopt proactive fiscal policies and accommodative monetary policies to stimulate demand. Yi's remarks highlight an urgent need to reverse an ongoing trend of negative GDP deflation, as economists are advised to be cautious about discussing this sensitive issue.
Source: YAHOO