China's money stock has amounted to 110 trillion yuan ($18.15) by the end of 2013. When responding to the question of RMB overissuing, department head of the financial survey and statistics of the PBOC Sheng Songcheng said China has maintained high economic growth, low inflation and stable prices without currency overissuance.
"The fundamental point of China's monetary policy is to seek a balance among price stability, economic growth and promoting employment. There won't be currency overissuance as long as the CPI stays at a low point. In fact, China has maintained a relatively low CPI index, which floats between 2 pct to 3 pct over these years. So no arguably China's development has maintained high economic growth, low inflation and stable prices without currency overissuance," Sheng said.
(CNTV.cn January 16, 2014)