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Economy

For China, monetary policy takes backseat to growth

Yuan rate expected to remain largely flat for the rest of 2017, local economists say

Residential apartments are under construction at Hengqin Island, China.   © Reuters

HONG KONG With Chinese President Xi Jinping kicking off his second term at the Communist Party congress starting Oct. 18, economists expect authorities to take few if any steps to tighten monetary policy so as not to rattle the economy.

Most respondents to a recent survey by Nikkei Inc. and Nikkei Quick News do not foresee a major shift in economic policies following the congress, although many think that the Chinese leader will impose some additional financial regulations, such as on shadow banking.

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