<HELP> for explanation


Член законодательного органа Китая He Keng призвал к прекращению государственной политики повышения требований банковского резерва

ПЕКИН (MNI) — Заместитель начальника финансово-экономическим вопросам комитета Всекитайского собрания народных представителейHe He Keng призвал к прекращению государственной политики повышения требований банковского резерва для решения инфляции, утверждая, что это до сих пор только вредило компаниям, без решения проблемы ценового давления. He Keng заявил, что проблемы, созданные увеличением обязательных резервов, необходимо «серьезно рассмотреть».
BEIJING (MNI) — A member of China's legislative body has called for an end to government policy of raising the bank reserve requirement to tackle inflation, arguing that adjustments so far have only hurt companies without tackling price pressures. He Keng, a deputy head of the financial and economic affairs committee of the National People's Congress, said that the problems created by reserve requirement hikes need to be «seriously considered.»
«We've raised the reserve requirement six times but that hasn't made any difference to inflation. However, the reserve hikes have done a lot of harm to small and medium-sized enterprises and even big companies,» he said in an online question-and-answer session on the website of the People's Daily, the Communist Party mouthpiece. «If this goes on, the entire economy will face difficulty,» he said, arguing that the economy is headed into a similar situation as 2008, when the government was forced to rapidly undo several rounds of tightening as the global financial crisis hit. His is the latest voice calling on the government to ease its tightening campaign.
The banking industry and small business associations are also complaining about the difficulties in sourcing funding resulting from Beijing's cumulative tightening, while two other government economists have publicly called for a time out already this week. He said that the government should stop hiking the reserve requirement when appropriate, arguing that there is no clear evidence that reserve hikes are an effective tool against inflation. The government may miss its 4% target for inflation this year, though the price index could come in within 5%, He said.

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