China puts curbing inflation top agenda: Deputy Minister of Finance

Posted on May 5, 2011 in AllEconomic NewsGovernment News
Curbing inflation is a big challenge for China and currently China puts it as top agenda for the government, Chinese Deputy Minister of Finance Li Yong said during a press conference after the 14th ASEAN+3 Finance Ministers’ Meeting held Wednesday.

Li said for the first quarter of 2011, China saw the inflation ratio a little higher over the target of 4 percent set by the government at the beginning of this year. According to the macroeconomic policy design, China will continue the active fiscal policy and prudent monetary policy.

Li said the inflation in China mainly caused by import factors, including the price hike of the international market and the high global demands.

“The Chinese government has already mapped out strong policy measures. In terms of prudent monetary policy, many measures have been taken, including higher interest rate, deposit ratio and also other price measures,”Li said.

“We will continue the implementation of those policies to curb the inflation until we reach a proper level or the target set up by the beginning of this year,” he added.

via China puts curbing inflation top agenda: Deputy Minister of Finance – People’s Daily Online.