CHINA would be able to sustain economic growth of around 6-7 percent in the next three to five years, Yi Gang, vice governor of the People’s Bank of China (PBOC), said Saturday.

    “China’s future economic growth will still be relatively quick. Around 7 percent, 6-point-something — these will all be very normal,” he told a conference in Beijing.

    China will lower the reserve requirement ratio in the future at a “normal” pace, the vice governor said.

    He said the PBOC planned to keep interest rates at a reasonable level to reduce the corporate debt burden, and noted that interest rate liberalization does not mean that the central bank would reduce regulation of rates.

    China will continue to set benchmark lending and deposit rates for some time, he said, but these rates would not restrict market pricing.

    (SD-Agencies)