China Urged to Weigh 2008-Style Mega Stimulus by Ex-PBOC Adviser

China should let investment play a larger role in boosting the economy, a former central bank adviser said, breaking with the views of other prominent analysts by arguing in favor of a big infrastructure construction push.

Yu Yongding, former member of the PBOC’s monetary policy committee.

Photographer: Kiyoshi Ota/Bloomberg

While China’s policies are increasingly focused on promoting consumption-led growth, Yu Yongding is instead calling for a massive investment program in the next five-year planning period starting from 2026 with the goal of reviving domestic demand.

Yu, a former member of the monetary policy committee at the People’s Bank of China, proposes modeling it after the 4 trillion-yuan ($562 billion) stimulus package deployed ...