China central bank chief says savings too high

06/30/2013 | Caijing Magazine online

Nearly half of China's gross domestic product is now in the form of savings, much more than the country needs, said Zhou Xiaochuan, governor of the People's Bank of China. "China has a higher saving rate, which, and viewed from the perspective of structural adjustment, China doesn't need so [high] a saving rate," Zhou said at an economic forum in Shanghai.

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