China's Vice FinMin Zhu wants fiscal policy to play a more active role -BBG

China’s vice finance minister Zhu was on the wires last minutes, via Bloomberg, commenting on the Chinese growth, industrial overcapacity.

Key Quotes:

“China's industrial overcapacity problem stems primarily from slower global demand”

“Quality of Chinese growth is continually improving”

“Conventional monetary policy is ineffective now”

“QE no longer effective, won't make sustainable growth”

“Fiscal policy to play a more active role”