Search: Look for:   Last 1 Month   Last 6 Months   All time

'Inflation to remain high in China during 2011'

Beijing, Sat, 22 Oct 2011 ANI

Beijing, Oct 22 (ANI): 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, Yu Yongding, a former adviser to the central bank's monetary commission, has said.


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


China's consumer price index (CPI), the 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 four percent.


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


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


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


China reported a GDP growth rate of 9.1 percent in the third quarter, down from 9.5 percent in the previous three months, he said, adding: "China's fiscal position is strong. There is no reason for pessimism at least in the short- and medium-terms." (ANI)


Read More: CPI | Inflation

Manohar Lal being presented with a memento
Manoj Tiwari BJP Relief meets the family members of late Ankit Sharma
Haryana CM Manohar Lal congratulate former Deputy PM Lal Krishna Advani on his 92nd birthday
King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image




Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.