Not too worried about China's economy: PBOC
The Deputy Governor of the People's Bank of China (PBOC), Zhang Qingsong, on Tuesday said he is not too worried about China's economy amid concerns over the country's sluggish economic recovery.  "Global investors have some concerns about Chinese economy, including the pace of economic recovery, problems with property market, and local government debts," he said during a panel discussion at Hong Kong’s Global Financial Leaders Investment Summit. "If short-term economic indicators have not significantly deviated from long-term [trend], I prefer to leave market forces play their roles, and then make policy adjustments if necessary.”  Zhang said government debt in China remains in the mid-to-lower range against international standards, but conceded that there are "structural issues" with the borrowings of some local governments. He said he believes that the eastern and central provinces are in a strong position to address their own debt issues.  The central bank executive also stressed that the PBOC is committed to avoiding sharp downturns in mainland home prices. He said the central government has implemented measures to maintain stability and promote the high-quality development of the property market.