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"China would not want to increase the value of the exchange rate and it would not want to undermine the value of the bond," he told this newspaper on the sidelines of the China Development Forum in Beijing on March 24.
"Consumption has demonstrated its role in driving the economy," Zhao added.
"China's twin cushions－foreign exchange reserves and extremely high domestic savings rates－provided it with both the resilience and policy space to proactively address major economic and financial threats, unlike more-vulnerable economies. This is increasingly important in a crisis-prone world," Roach added.
"Compared to the first half of this year when liquidity was adequate, economic recovery has become the new theme of the market. Therefore, undervalued companies and cyclical sectors may provide the maximum opportunities," he said.
"Critics have an obligation to respond to what I said, not to create straw men to attack," he said.
