China will tighten policy more aggressively if measures already taken fail to cool the red-hot economy, a central bank official said in remarks published on Monday.
“The central bank will wait and see whether the signs of a slowing trend evident in the June economic indicators continues or not. If not, the central bank will take stronger measures,” Liu Lida, head of the monetary policy and theoretical research division of the central bank’s research bureau, was quoted as saying by the official China Securities Journal.
China’s annual economic growth accelerated to 11.3 percent in the second quarter from 10.3 percent in the first quarter.[Full Text]