PBOC adviser wants more monetary tightening

China should adopt more monetary tightening policies and may allow more yuan appreciation, People's Bank of China adviser Yu Yongding said.

Yu told a forum in Beijing that China faces a dilemma in its need to balance its interest rate and foreign exchange policies and the profits of commercial banks.

"It may be that the exchange rate needs to be sacrificed," he said.

"If you believe China's economy will continuously grow in the next 10 years, you have to commit to definitely increasing the value

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