China’s economic opening-up to help offset U.S. trade frictions: central bank adviser

BEIJING (Reuters) – China’s opening up of its economy will help it cope with the trade frictions with the United States, a central bank adviser said on Tuesday, adding that China cannot go backwards on its market reforms. But China will forge ahead with its reforms at its own pace, Liu Shijin, an adviser to the People’s Bank of China (PBOC), said at a finance forum in Beijing. An escalating trade war with the United States is threatening to overshadow China’s plan to celebrate 40 years of economic achievements since reforms initiated by former Chinese leader Deng Xiaoping in December 1978. Read more here