TechFlow reported that Huang Yiping, a member of the Monetary Policy Committee of the People's Bank of China, said at the Economic Policy Forum launched by China 50 Forum on July 30 that the current economy is "prone to cooling and hard to heat up," and if it truly falls into a "low-inflation trap," the consequences would be severe.
Therefore, he suggested clearly setting a rigid policy target of 2%-3% CPI growth. He advocated changing the policy mindset of "emphasizing investment over consumption" and boldly adopting fiscal measures to support consumption growth, including enabling rural migrant workers to settle in cities and directly distributing money to the public.
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