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China to prevent debt level rise and asset bubbles: central bank economist

Xinhua, February 23, 2017 Adjust font size:

China's monetary policy will be prudent and neutral in 2017, which will help prevent a rapid rise in debt levels and asset bubbles, central bank economist Ma Jun said Thursday.

The policy stance will also help keep economic growth at a reasonable pace and ensure inflation is at a stable level, Ma said in a statement the People's Bank of China (PBOC) sent to Xinhua.

According to remarks Ma made at a meeting in Singapore, China is seeking to further open up its bond market and create conditions for inclusion of its bonds in major global indices.

Ma said the State Administration of Foreign Exchange was working to improve rules allowing overseas non-central bank institutional investors to participate in the domestic foreign exchange derivatives market.

The PBOC will also explore ways to expand trading hours at the interbank bond market and enhance international cooperation on bond market infrastructure, Ma said. Endi