A figure from one of the Chinese central government’s top financial authorities claims that China has emerged as a refuge for international capital due to low levels of inflation relative to other major economies since the onset of the Covid pandemic.
Han Wenxiu (韩文秀), Deputy Director in charge of daily work at the Office of the Central Commission for Financial and Economic Affairs, said China has become a “safe haven for international financial security” due to the stability of its monetary policy.
“For many years, China has implemented a stable monetary policy, adhered to the autonomy and normalization of monetary policy, stabilized the financial system, eliminated a large number of hidden risks, and maintained the bottom line of no systemic risks,” Han said on 25 March at the 2023 China Development Forum.
“Currently, there is no obvious inflationary or deflationary pressure, and there is still plenty of room for monetary policy to maneuver.”
