PBOC's Tang says China may not tighten further

China may not need to tighten its macro-economic policy further in the near future, Tang Xu, the director of the People's Bank of China's research bureau, said in an interview published in the official Shanghai Securities News.

He said the increase in interest rates last month was meant as a warning to China's "hot industries".

"If the market can understand the central bank's target (when it raised interest rates) it will not be necessary for the central bank to launch further tightening measur