China central banker calls for more reforms now, warns of cost of delay
China should continue with financial reform now, a senior Chinese central banker said on Friday, warning that costs will increase if reforms are delayed.
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Shanghai: China should continue with financial reform now, a senior Chinese central banker said on Friday, warning that costs will increase if reforms are delayed.
He added that China was still attractive to long-term foreign capital, and that the government had plenty of leeway to tinker further with economic policy, including further reform to the foreign exchange market given that domestic interest rates are on a downward trend.
China can fully liberalise domestic interest rates as financial institutions have now learned to manage risk, he said.
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