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China can grow 6-7% for next 3-5 years: PBOC vice governor

The comments, made in a speech at a conference in Beijing, came the day after China’s central bank cut interest rates for the sixth time in less than a year.

China would be able to sustain economic growth of around 6-7 percent in the next three to five years, Yi Gang, vice governor of the People’s Bank of China, said on Saturday.

The comments, made in a speech at a conference in Beijing, came the day after China’s central bank cut interest rates for the sixth time in less than a year.

Monetary policy easing in the world’s second-largest economy is at its most aggressive since the 2008/09 financial crisis, as growth looks set to slip to a 25-year-low this year of under 7 percent.

The vice governor said the PBOC planned to keep interest rates at a reasonable level to reduce the corporate debt burden, and noted that interest rate liberalization does not mean that the central bank would reduce regulation of rates.

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