Flash: There will be no stimulus package in China - JP Morgan

FXstreet.com (Barcelona) - China will focus all his efforts on addressing structural imbalances, says JP Morgan Chief China Economist Zhu Haibin, who seems confident about China not injecting further stimulus into the economy, despite slower growth.

Chief China Economist Zhu Haibin said Monday that on top of China's agenda is to improve on fiscal policy through savings on administrative spending for "stimulus-style fiscal policies, such as tax cuts for small companies and expanding VAT reform."

"In terms of policy, one thing is clear -- there will be no stimulus package, despite the sluggish economic environment," Zhu added, in quotes cited by Proactive Investors Australia site.