China to shift to tighter monetary policy - PBOC adviser

China will gradually shift to a tighter monetary policy next year and it needs to slow money-supply growth, Reuters reported, citing a central bank adviser's remarks published in the China Securities Journal on Dec 3.

Li Daokui, who sits on the monetary policy committee of the People's Bank of China (PBOC), said government should also guide more savings out of banks by developing capital markets, expanding the stock market and encouraging overseas investment in a controlled and gradual way.

Beijing should also expand investment channels for individuals, including in the financial instruments of China's trade partners, Li was quoted as saying.

source:Agencies