Shanghai: China has limited room for further monetary policy easing, and it should pursue structural reforms such as encouraging entrepreneurs rather than counting on macroeconomic policies to revive growth, a central bank adviser said on Sunday.

Liu Shijin, a member of the People's Bank of China's (PBOC) monetary policy committee, told a financial forum in Shanghai that Beijing's room for monetary policy easing was limited by widening interest rate differentials with the U.S.

Fiscally, Chinese governments at various levels are under stress, he told the annual Bund Summit conference.

"If China continues to focus on macro policies in its efforts to stabilise growth, there would be more and more side effects," said Liu, vice president of the Development Research Center of the State Council.

"More importantly, we will again miss the opportunity for structural reforms."

China's post-COVID recovery has lost momentum amid weak consumption, falling exports and a deepening property debt crisis, and the economy is struggling despite a slew of monetary and fiscal measures to boost confidence.

Liu proposed on Sunday a new round of structural reforms that could aid the economy immediately, while also injecting long-term growth momentum.

They include demand-side reforms with a focus on giving migrant workers access to public services enjoyed by city dwellers, as well as supply-side reforms that involve igniting entrepreneurship in emerging industries, he said.

China's top economic planning body announced this month it would create a new department to help private businesses, as Beijing seeks to revive investor confidence hurt by government crackdowns on sectors ranging from the internet to private tutoring.

Courtesy: Reuters

Islamabad: Pakistan’s Ambassador to Denmark Shoaib Sarwar has presented his credentials to Her Majesty Queen of Denmark, Margarethe 2 on Friday (September 22) in Copenhagen.

Ambassador Sarwar, before his appointment as Ambassador to Denmark, served at Prime Minister’s Office, Islamabad as Joint Secretary, a statement said on Sunday.

During his diplomatic career, Shoaib Sarwar has earlier served in Canada, Netherlands and USA.

He holds BA(Hons) from University of Kent in United Kingdom and MBA from New York University, USA

New Dehli: Indian Tennis sensation Sania Mirza on Sunday shared her excitement about attending upcoming wedding of Bollywood actress Parineeti Chopra.

In a touching photograph posted on her Instagram, the two accomplished women could be seen sharing a warm embrace, exuding a sense of empowerment and camaraderie.

Sania's caption for the picture was filled with heartfelt congratulations for the bride-to-be, and she expressed her anticipation for the joyous occasion.

She wrote, “Congratulations beautiful girl. My turn to give you the Biggest jhappi,” indicating her eagerness to join the celebrations.

Sania's confirmation of her attendance at the grand Udaipur wedding added to the anticipation surrounding the event.

Prior reports had exclusively indicated that Sania Mirza was likely to grace the wedding of Raghav Chadha and Parineeti Chopra in Udaipur. These reports were based on information from a source close to the development.