China’s economy is expected to grow 4.7% this year, Wang Yiming, an adviser to the monetary policy committee of the People’s Bank of China (PBOC) said in a statement on Monday.
Wang said, China’s economy could see a strong rebound in the second half, “but difficulties remain for the 5.5% target”.
On Saturday, the central bank advisor said that the country could consider trying to boost the economy by introducing special national bonds that don’t count as financial deficits.
Market reaction
USD/CNY was last seen trading down 0.04% on the day at 0.6860. The pair remains unfazed by the above comments.
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