“The Chinese government will continue to support the economy”, said Professor Mei Jianping, CKGSB Associate Dean in an interview with Maeil Business Newspaper. He commented that “Unlike the years past, the future Chinese government will aim to resolve the accumulated inequality. The increased investments in railways in the Midwest region and tax exemptions for small business owners are examples that are deeply related to the government’s effort to resolve inequality”.
Prof. Mei emphasized that “the reason the government rejects large-scale economic stimuli is that product quality is more important than the pace of the growth”. With regards to the recent weakness in Chinese Yuan, Professor Mei explained “It is likely to be highly related to the government’s intention to support the economy by encouraging overseas exports”. He added that the Chinese Yuan depreciation would continue in the course of time and it will depreciate by up to 5% within this year”.
Read [Interview] CKGSB Associate Dean Mei Jianping: “Chinese Yuan will be Depreciate 5% within This Year” on the Maeil Business Newspaper website