Latest News:  
Beijing   Sunny/Overcast    20 / 13   City Forecast

Home>>China Business

Inflation is likely to remain high

(China Daily)

08:24, October 24, 2011

BEIJING - Inflation in China in 2011 will stand at 5.8 percent, and there will be no initiatives to further tighten or loosen the nation's monetary stance, said Yu Yongding, a former adviser to the central bank's monetary commission, on Friday.

"Inflation is slowing down gradually. On the whole, inflation is under control ... the Chinese government has been quite successful in controlling it," said Yu, who is currently a researcher at the Chinese Academy of Social Sciences.

Yu made the remarks at a seminar in Beijing, organized by the Central University of Finance and Economics.

China's consumer price index (CPI), a main gauge of inflation, declined to 6.1 percent in September, from a peak of 6.5 percent in July. The government's target for the year is 4 percent.

New moves to tighten or loosen the monetary stance are unlikely, said Yu, adding that China won't cut interest rates until inflation falls below 5 percent.

To soak up liquidity and curb inflation, the government has raised interest rates three times this year and hiked the reserve requirement for commercial lenders six times.

China's economy will perform satisfactorily in the foreseeable future, without the risk of a hard-landing risk in the short- and medium-terms, said Yu.

"Investment growth is still quite strong ... even if the world suffers from a double-dip recession, China can still manage," he said, predicting that the world's second-largest economy will maintain GDP growth of at least 7 or 8 percent.

【1】 【2】

Email|Print|Comments(Editor:梁军)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Wen says people's livelihood an especially important task

  2. Girl dies after being hit by 2 vans and ignored by 18 people

  3. Halloween Dog Parade kicks off in New York

  4. Championship of Miss Tourism Contest opens

Most Popular

Opinions

  1. China's GDP: Quality vs. quantity?
  2. What does Clinton's 'Pacific Century' mean?
  3. Chinese should see warning in Western demos
  4. EU, US crises taking toll on China's GDP
  5. Time right to develop S China Sea resources
  6. Hidden motives lie behind US mission to Uganda
  7. Japan PM: Japan's security environment 'murky'
  8. US, not China manipulates exchange rate
  9. What is wrong with US?
  10. Chinese culture of peace promotes development

What's happening in China

Villagers pin hopes on tourism after rice farming ban

  1. Heavy fog dampens Beijing's blue sky ambition
  2. Landslide halts Yangtze River cruise
  3. China to check school canteens for food safety
  4. World's largest Taoism forum to open at C China
  5. Beijing neighbor supplies water to ease thirst

PD Online Data

  1. Customs of Mid-Autumn Festival in Xiamen
  2. Custom of Mid-Autumn Festival in Shanghai
  3. Custom of Mid-Autumn Festival in Hong Kong
  4. Customs of Mid-Autumn Festival in Guangzhou
  5. Customs of Middle-Autumn Festival in Old Beijing