Latest News:  
Beijing   Shower    27 / 20   City Forecast

Home>>China Business >> Macro-Economy

China should stick to prudent monetary policy: central bank advisor

(Xinhua)

15:10, August 25, 2011

BEIJING, Aug. 24 (Xinhua) -- China should still stick to a prudent monetary policy, the China Securities Journal quoted a central bank advisor as saying on Wednesday.

Xia Bin, a member of the monetary policy committee of the People's Bank of China, or the central bank, made the remarks at a forum on Tuesday, noting that the country's macro-economic-controlled direction will not change.

"The government is adopting various measures to increase financing to small and medium enterprises, which is the right decision, but the market shouldn't misread it as loosening overall liquidity," Xia said.

Meanwhile, Xia expects the country's consumer prices to fall slightly in the fourth quarter, with the full-year inflation data to stay between 4 percent and 5 percent.

Xia said the moderate rise in the yuan's value can help control imported inflation, but solely relying on the yuan's appreciation to contain inflation is unrealistic.

Under the current economic situation, the government should also continue to accelerate diversifying the allocation of its foreign reserves and the yuan's "go-global" drive, Xia suggested.

The country's consumer price index, a main gauge of inflation, accelerated to a 37-month high of 6.5 percent in July, well above the government's target ceiling of 4 percent.

This year, China has made curbing inflation a top priority and implemented a prudent monetary policy. Enditem

Email|Print|Comments(Editor:燕勐)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Air-sea rescue exercise held in Shanghai

  2. Moderate quake hits US east coast, no casualties

  3. In pictures: Steve Jobs resigns, end of an era at Apple

  4. Motorbike-shaped craftwork made of lobsters

Most Popular

What's happening in China

7 detained in NE China coal mine flood

  1. Guo Meimei not linked with RCSC
  2. 'Best' Universiade comes to an end
  3. 'Public opinion didn't sway trial'
  4. Source of the Yellow River stops shrinking
  5. Stricter standards to be set for plants

PD Online Data

  1. The She ethnic minority
  2. The Yao ethnic minority
  3. The Russian ethnic minority
  4. The Oroqen ethnic minority
  5. The Li ethnic minority