MNI BRIEF:China To Boost Demand As Tariffs Rise - PBOC's Huang

China will make further efforts to boost domestic demand, particularly by stimulating consumption as trade barriers are rising across the board, said Huang Yiping, member of MPC of the People’s Bank of China, at Boao Asia Forum on Wednesday.

Expanding domestic demand has become China’s top priority and the overarching policy direction, said Huang, noting the "dual circulation" strategy underscores the critical role of the domestic cycle.

As the U.S retreats from globalisation, developing countries should work more closely, he said, pointing to the success of ASEAN. 

He suggested regional free trade zones and agreements should be further expanded and interconnected. (See MNI INTERVIEW2: China-U.S Trade Deal Possible But Not On Yuan)

China should also strengthen collaboration with its developing counterparts in terms of green transition by providing funding, technology and products, he said.