China should cut rates, but not use monetary flooding - central bank adviser

SHANGHAI (Reuters) - Chinese policymakers should pursue a proactive fiscal policy and cut interest rates to support flagging economic growth, a financial magazine on Tuesday quoted Sheng Songcheng, an adviser to the People's Bank of China (PBOC), as saying.But as China does not face the same deflationary pressures that exist overseas, fiscal policy measures should be the first consideration, with monetary policy playing a supporting role, Yicai quoted Sheng as saying.The comments comes as debate..