Fiscal, rather than monetary, expansion should be used to boost the flagging US economy, and Beijing would be willing to lend a hand, an official at China's sovereign wealth fund has said.

Zhou Yuan, the head of asset allocation at China Investment Corporation (CIC), told the BBC, a news service, that a further round of quantitative easing would not help the United States. "We are advocating that the US government start a programme to invest a massive amount of equity, in the form of a public