China's central bank chief urges 'comprehensive' view on global imbalances

BEIJING, Oct 15 (Reuters) — China's central bank governor called for looking beyond current account and exchange rate adjustments when it comes to global imbalances, in a further defence of China's policies against trade partners' criticisms. The People's Bank of China (PBOC) Governor Pan Gongsheng urged a "more comprehensive analytical perspective" regarding global imbalances in a G20 meeting of finance ministers and central bank governors on Thursday in Bangkok, a central bank statement showed. Pan said attention should be paid not only to the current account, which covers goods and services trade, but also to money flows in financial channels, according to the statement. Global imbalances cannot be resolved through exchange rate adjustments alone, he said. Deficit and surplus countries should work in concert to achieve a dynamic equilibrium in the global economy, Pan was quoted as saying. As China's trade surplus surges, European leaders have intensified calls for a stronger yuan. The PBOC pushed back against foreign criticism of its exchange-rate policy in a statement earlier this month, saying it neither needs nor intends to obtain a trade competitive edge through exchange-rat