Prudent policy is way ahead

A prudent and neutral monetary policy would not only stabilize China's short-term economic growth, but also assist the long-term transformation toward high-quality development, a central bank advisor told China Daily.

The People's Bank of China, the nation's central bank, has already fine-tuned its monetary policy this year without changing its overall tone, to "proactively sustain economic growth at an equilibrium level", said Liu Wei, president of the Renmin University of China, and a member of the central bank's monetary policy committee.

In the short term, there is still room for further measures to provide liquidity, for the sake of economic growth and due to concerns over financial stability, according to Liu.