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Chinese monetary policy driven more by domestic factors PDF Print E-mail

Tuesday, 25 May 2010

Although China's economy is export-oriented, its monetary policy should mainly be driven by domestic factos, said Zhou Xiaochuan, governor of the People's Bank of China, or the central bank, on Monday at a news briefing on the second round of the China-U.S. Strategic and Economic Dialogues.

International factors influenced decision-making, but the impact was usually smaller, he added.

At the dialogue, officials from China and the United States touched upon how the European sovereign debt crisis had impacted on yuan's exchange rate during the dialogues, but did not go deeper.

Zhou said China would prevent "blind" and "irrational" moves in the financial market while further promoting financial innovation, he said.

 
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