China to temper demand stimulus - RBS

Harrison Hu, Chief Greater China Economist at RBS, suggests that in order to clarify China’s policy stance and future direction, the People’s Daily published another interview with "the authoritative person" on May 9.

Key Quotes

“This article, carrying messages directly from China’s top leadership, sets the tone of macro policy for the rest of the year. We believe it signals a shift in macro policy focus at the margin, from demand stimulus to (1) supply-side restructuring, and (2) containing financial risk.”