China: Will Not Resort to Flood-Like Stimulus

The Chinese state media reported on Monday, citing a statement from China’s cabinet saying that China will not resort to flood-like stimulus, adding that they will keep liquidity reasonably ample.

This comes after the PBOC injected liquidity into the system, offering 700bn yuan in a medium term lending facility earlier today.

The cabinet added that “they will guide lending rates lower.”

“China will make macroeconomic policies more targeted and effective.”