China central bank adviser sees no 'big' stimulus unless trade war worsens

China central bank adviser sees no 'big' stimulus unless trade war worsens
FILE PHOTO: An attendent cleans the carpet next to U.S. and Chinese national flags before a news conference for the 6th round of U.S.-China Strategic and Economic Dialogue at the Great Hall of the People in Beijing, July 10, 2014. REUTERS/Jason Lee -
Jason Lee(Reuters)
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DALIAN, China (Reuters) – A Chinese central bank adviser said on Monday China’s economy is likely to grow more than 6% this year provided a bitter trade dispute with the United States does not worsen, and hence will not need “very big, new stimulus measures” to stimulate growth.

“If the Sino-U.S. trade relationship does not deteriorate further, the possibility of keeping gross domestic product (GDP) growth over 6% this year is rather big,” Ma Jun told Reuters on the sidelines of the World Economic Forum.

Chinese leaders have set a growth target of 6-6.5% for 2019.

“There should be no need to take very big, new stimulus measures,” he said.

The United States and China agreed on Saturday to restart trade talks after President Donald Trump offered concessions including no new tariffs and an easing of restrictions on tech company Huawei in order to reduce tensions with Beijing.

(Reporting by Kevin Yao; Writing by Yawen Chen; Editing by Jacqueline Wong)

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