China's relatively independent monetary policy will help it to counter yuan fluctuations, says a leading academic. Speaking to Global Business, He Ping, Vice Dean and Professor of the School of Economics and Management at Tsinghua University said interest rate hikes cannot tame inflation. Several other factors such as supply shortages, COVID-19 outbreaks and the Russia-Ukraine conflict are also contributing to inflation, he said. China would be better off if it can keep interest rates stable, while lowering the reserve requirements to boost money supply in the economy.