Help | Sitemap | Archive | Advanced Search | Mirror in USA   
  CHINA
  BUSINESS
  OPINION
  WORLD
  SCI-EDU
  SPORTS
  LIFE
  FEATURES
  PHOTO GALLERY

Message Board
Feedback
Voice of Readers
China Quiz
 China At a Glance
 Constitution of the PRC
 State Organs of the PRC
 CPC and State Leaders
 Chinese President Jiang Zemin
 White Papers of Chinese Government
 Selected Works of Deng Xiaoping
 English Websites in China
Help
About Us
SiteMap
Employment

U.S. Mirror
Japan Mirror
Tech-Net Mirror
Edu-Net Mirror


 
Monday, May 22, 2000, updated at 18:03(GMT+8)
Business  

China Should Concern Deflation

Deflation, rather than inflation, should be China's principal policy concern, according to a United Nations report released in Beijing Monday.

Consumer prices are estimated to have fallen by 1.4 percent in 1999 after a fall of 0.8 percent in 1998, said the report on the Economic and Social Survey of Asia and the Pacific 2000 launched by the UN Economic and Social Commission for Asia and the Pacific (ESCAP).

In China deflation is a manifestation of weak consumer confidence occasioned by business uncertainty and associated job insecurity. Households have reacted to this by increasing savings, the report noted.

Prices are expected to stop declining in 2000 with the increase in oil and other commodity prices. Whether this counters the high propensity to save of Chinese households remains to be seen, the report noted.

The report said that consumer expenditure is still weak in China, and the situation needs to change soon if fiscal deficits are to become a sustainable burden.




In This Section
 

Deflation, rather than inflation, should be China's principal policy concern, according to a United Nations report released in Beijing Monday.

Advanced Search


 


 


Copyright by People's Daily Online, all right reserved