Nation to target weak links to boost economy

Unlike the United States, China will not use quantitative easing to stimulate the economy but will target financial support to weak links of economic development, said Ma Jun, chief economist of the People's Bank of China.

"The US Federal Reserve pumped several trillion dollars into the economy through quantitative easing. In terms of the amount of money involved, re-lending and other mini-stimulus measures taken by China's central bank cannot compare with the US. It is clear that we don't flood the market with liquidity" Ma said on Friday.

"Besides, speaking from the macroeconomic perspective, it is unnecessary for China to use quantitative easing. The economy does not face a huge downward pressure, and the job market is improving, so China doesn't need huge stimulus," he said.