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- China needs to ensure policies boost economy, lower real rates: Premier Li
China needs to ensure policies boost economy, lower real rates: Premier Li
China needs to make better use of its various policy tools to boost the economy, Premier Li Keqiang said on Thursday, as growth teetered near three-decade lows and a partial trade deal with the United States remained elusive.
Monetary policy needs to place more stress on developing the real economy, especially small and medium-sized enterprises, Li told. He said China will use “efforts through all channels” to lower real interest rates.
“China’s prime rate is a little bit over 4% for one year so we still have room to deal with monetary policy expansion,” said former central bank governor Zhou Xiaochuan on Thursday at a separate event in Beijing.
China’s economy has maintained a stable performance this year and the government is confident that it will achieve the main social and economic targets for 2019, said Li. Beijing will continue with a proactive fiscal policy and a prudent monetary policy, he said.
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