China will not resort to “flood-like” stimulus in monetary policy next year, although it will consider more cuts as needed to reserves held at commercial banks, local media quoted a central bank adviser as saying in a report on Tuesday. The Chinese economy will face downward pressure in 2019, while the pace of growth will gradually stabilize, the 21st Century Business Herald quoted Sheng Songcheng, an adviser to the People’s Bank of China (PBOC), as saying. “Monetary policy will remain prudent and won’t be a ‘flood’. Otherwise, funds will likely flow into the property sector again,” Sheng was quoted as saying by the ... (full story)