Chinese media backed by People’s Bank of China says China should focus policy on boosting consumer demand

Via the People’s Bank of China financial news media in China, an analyst article:

• China should shift its policy initiatives towards boosting consumer demand
• policy should move away from credit expansion

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Recent data from China clearly highlights that more needs to be done to support domestic demand. while industrial production is doing well, retail sales are disappointing:

• China April March Industrial production +6.7% y/y (expected +5.5%) Retail sales +2.3% (3.8% expected)

This article was written by Eamonn Sheridan at www.forexlive.com.

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