Latest News:  
Beijing   Sunny/Cloudy    13 / 1 ℃  City Forecast

English>>Business

China's Nov. inflation rises to 2 pct (3)

(Xinhua)

08:22, December 10, 2012

A consumer looks at discount information in a supermarket in Handan, north China's Hebei Province, Dec. 9, 2012. China's consumer price index (CPI), a main gauge of inflation, grew 2 percent year on year in November, the National Bureau of Statistics announced Sunday. The inflation rate increased from a 33-month low of 1.7 percent in October as food prices increased. (Xinhua/Wang Jiuzhong)

The November PPI figure was in line with the country's latest purchasing managers index, which rose to 50.6 percent in November from 50.2 percent in October, suggesting that manufacturing activity has improved.

Because of sluggish external demand and a cooling property market, China's economy grew 7.4 percent in the July-September period, its weakest performance in more than three years and the seventh straight quarter of slowing expansion.

In order to buoy growth, the central bank lowered benchmark interest rates twice this year, cut banks' reserve requirement ratios (RRR) by 100 basis points, pumped liquidity into the market and approved a series of infrastructure projects worth more than 1 trillion yuan.

A mild rise in the CPI and a recovery in factory-gate prices dampened expectations of further policy loosening as the economy recovers.

Wang said the country should continue to maintain a positive fiscal policy and a stable monetary policy over a period of time to consolidate the economic recovery momentum.

Liu Ligang, an economist with ANZ National Bank Ltd., said the possibility of a 50-basis-point RRR cut can not be ruled out in December, suggesting that the government remain vigilant against inflationary pressures in 2013.

The central bank will conduct large-scale reserve repos more frequently to inject liquidity into the market in coming days, as banks often lack funds at the end of the year, according to Liu.


【1】 【2】 【3】 【4】 【5】 【6】 【7】 【8】 【9】 【10】
【11】 【12】



We recommend:

'Boeing Dreamliner riddled with errors

HK tops China City Competitiveness Ranking

China's electric rail mileage ranked world's first

10th China Int'l Automobile Exhibition concludes

Harbin-Dalian high-speed railway starts operation

New wave of communication tools

Alibaba's 2012 transaction volume hits 1 trln yuan

China's savings rate world's highest

Shanghai Center Tower to rise over 400m

Email|Print|Comments(Editor:李倩、梁军)

Related Reading

Leave your comment0 comments

  1. Name

  

Selections for you


  1. China, Belarus hold joint anti-terrorism drill

  2. Joint search and rescue exercise held

  3. Cities with highest life quality in the world

  4. Photos: China in 1942, a real history

  5. 'Devil' foreign instructors

  6. iPhone 5 launch event held in Seoul

  7. Who is the richest Chinese writer in 2012?

  8. Why US meddles in Diaoyu Islands issue?

Most Popular

Opinions

  1. Stock market needs regulation, not promotion
  2. BRICS economies are not fading
  3. Debate over gaokao policy heats up
  4. A survey on lunch in Beijing's primary schools
  5. China on course for stable growth: JP Morgan
  6. School needs be responsible for teachers' behaviors
  7. Big burden seen in 'irrational' property tax
  8. Confidence rises for China-Africa co-operation
  9. What has 'Taobao Culture' brought us?
  10. Telecommuters challenge workplace norms

What’s happening in China

'Devil' foreign instructors at Chinese bodyguard training camp

  1. Blizzard to hit coastal Shandong
  2. Web China: "Top 10 concerns" survey
  3. Natural disasters impact 1.76 mln Chinese in Nov.
  4. 8 officials suspended over mine accident
  5. Police to minimize traffic controls for officials' trips