Top 10 indicators: Vital signs of China's economy (2)

16:27, December 23, 2010      

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RMB appreciated against the dollar by 2.5 percent

Since China's central bank announced renewed reforms of the exchange rate, the RMB experienced a slight appreciation of 2.5 percent. Capital so far has shown a sign of two-way flow and strong elasticity.

RMB appreciation still faces great external pressure. China should follow proactive, controllable and gradual principles to stabilize the RMB exchange rate.

CPI increased 3 percent

The Consumer Price Index (CPI) in 2010 kept increasing in 2010. In November, it hit a 28-month high of 5 percent. Experts project that the annual CPI index would be slightly higher than 3 percent.

Global monetary liquidity was behind the price hike, and China will shift from a flexible monetary policy to a more stable one. With the implementation of various macro-control policies, the general price level next year will remain stable.

Energy savings, emissions reduction met goals

The year 2010 is the final phase for the national energy saving and emission reduction campaign of the 11th Five-Year Plan. We are confident that China's emission reduction target can be met and the objective of a 10-percent decrease of major pollutants can be realized.

However, China still faces the task of the adjustment of its economic development pattern and structure, so we cannot afford to underestimate energy saving and emission reduction and need to establish a mechanism for future sustainable development.

Sales volume of automobiles hit 18 million

According to China Association of Automobile Manufacturers, the sales of automobiles this year will hit 18 million, making China the world top auto producer and the largest global auto market.

Now that the government has ended most policies to subsidize the purchase of automobiles and cities have introduced measures to ease traffic congestion nationwide, China's auto market will definitely endure a new test next year. But the production and consumption of automobiles will highlight the theme of energy saving and environment protection.

Trade surplus dropping to 18 billion US dollars

China's trade surplus is expected to drop below 18 billion U.S. dollars in 2010 and the trade balance will be further improved, said Chen Deming, Minister of Commerce.

Although trade volume has decreased this year, China still faces pressures from major trading partners, such as the United States and E.U. member countries. China needs to adjust its trade structure by increasing imports. Particularly, it must strike a balance of payments by increasing imports from countries with which China holds huge trade surpluses.

By Zhang Xinyi, People's Daily Online
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