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Domestic demand is key to China rebalancing -PBOC

Written by: Staff
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BEIJING, Oct 26 (Reuters) Stronger domestic demand, not a stronger exchange rate, must be the central plank of a package of measures to correct China's economic imbalances, a senior central bank official said on Thursday.

Appreciation of the yuan can play a supporting role, and China will continue reforming the country's foreign exchange regime to make the currency more flexible, assistant central bank governor Yi Gang told a forum.

But he added: ''Expanding domestic demand, especially consumption, should be the main part of the package.'' Reuters DKS VP0752

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