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Market Economy

Policy options for credit

2014-09-01

By Xia Bin, Gao Shanwen, Chen Daofu 

Date: 2003/08/06

-- Reasons for and impacts of credit fluctuations since latter half of 1990s

Abstract: 

The basic trend for China's speedy economic growth in the next few years will remain unchanged. The present credit increase will not cause a prompt inflation witnessed in the mid-1980s and the beginning of 1990s, but it is necessary to adopt some pre-regulation and micro-regulation countermeasures. The central bank should continue to implement the stable exchange rate policy; keep a close watch on credit increase and make sure that its growth rate will not exceed 23%; be prudent in implementing the deposited reserve policy and continue to use the central bank bills for hedging operations; to improve the cultivation mechanism for China's exchange rate market with unchanged nominal exchanged rate of RMB.