Monetary easing 'no answer' to loan woes

PBOC official says statistics don't give full picture of credit conditions

China's liquidity is ample, and simply easing monetary policy won't help cash-starved private companies, a central bank official told a symposium on Tuesday.

Wang Yi, deputy director of the statistics and analysis department at the People's Bank of China, challenged the conventional wisdom that tight monetary policy in China is driving up financing costs for the private sector.