China should boost imports to rebalance economy-PBOC adviser

WUXI, China, Nov 12 (Reuters) - China should boost its imports to rebalance the economy and not play up the impact of inflation, an academic adviser to the central bank said on Friday. Zhou Qiren, also a professor at Peking University, told a financial conference that China's inflation was the result of many years of net exports and loose monetary policy, and the problem cannot be solved overnight. China has toughened real estate curbs, raised interest rates and urged lenders to set aside more cash as reserves in recent months to cool the economy and stave off inflation. Zhou said in an article published earlier this month that China must make its currency more market-oriented to help curb excessive liquidity, which is driving up asset and commodity prices. ($1=6.62 Yuan) (Reporting by Samuel Shen and Jacqueline Wong) ((; +86 21 6104 1789; Reuters Messaging: Keywords: CHINA ECONOMY/IMPORTS ADVISOR (If you have a query or comment on this story, send an email to COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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