China’s economic policy diverging from US while ‘putting own needs first’, central bank says

China has shrugged off the monetary policy shift by the US Federal Reserve and says maintaining stability in its own domestic financial markets is the main priority at this stage in its post-pandemic economic recovery, which is further along than that of the United States.The position was relayed on Tuesday by the head of the central bank’s monetary policy department, Sun Guofeng. He acknowledged that the People’s Bank of China (PBOC) has taken notice of recent market discussions over a…

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