A capital account deficit would be a good thing for China, the head of the central bank's research unit said on Monday, because it could be used to offset the current account surplus and China would not need to accumulate foreign reserves continuously.
Jin Zhongxia, director of the Finance Research Institute of the People's Bank of China, made the comments during a business forum in Beijing.
The previous day, Premier Li Keqiang had said China's war chest of foreign currency reserves had become a headache as its continued rise could stoke inflation in the long term.
Source: Reuters
Jin Zhongxia, director of the Finance Research Institute of the People's Bank of China, made the comments during a business forum in Beijing.
The previous day, Premier Li Keqiang had said China's war chest of foreign currency reserves had become a headache as its continued rise could stoke inflation in the long term.
Source: Reuters
