Chinese School - China will not see inflation this year

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China will not see inflation this year

www.chinanews.cn 2006-03-31 17:25:52

Chinanews, Mar. 31 - Ma Kai, director of the National Development and
Reform Commission (NDRC), explicitly indicated on Mar. 30th that "up to
now, we do not need to worry about inflation, no need this year at least."
Before that, based on NDRC's statistics, from January to February this
year, China's urban fixed asset investment grew 26.6%, maintaining a
relatively high growth rate. At the same time, if the international oil
price remains high, China should gradually regulate factors spurring
price hikes such as prices of resource products. Therefore, outsiders
generally worry that such factors may give rise to inflation in China in
the future.
Ma optimistically said that China can stabilize prices with more forces
such as stable agriculture, stable grain prices and balanced
supply-demand or oversupply of most consumer goods. Therefore, price
index will not fluctuate evidently. Ma Kai emphasized that the
orientation of Chinese government's macro policies is to keep
implementing prudent financial and monetary policies. Provided there are
signs of inflation, China will have adequate solutions to take control.
Aiming at the United States' rebuke against China's manipulating the RMB
exchange rate, Ma said that China's exchange rate regime needs
improvement, but there is no manipulation.

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