China must avoid massive stimulus and control debt, says PBOC’s Yi

BEIJING: China isn’t in a rush to add massive monetary stimulus, in contrast with other central banks around the world, and must maintain a prudent policy stance, central bank Governor Yi Gang said at a press briefing in Beijing.

Overall financial risks are contained and those in the shadow banking sector and some key institutions have been resolved, said Yi, reiterating the People’s Bank of China’s policy stance at a joint briefing in Beijing with Finance Minister Liu Kun and National Bureau of Statistics head Ning Jizhe on Tuesday.