www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

   

China's inflation hit 2.7% in February

By Dong Zhixin (chinadaily.com.cn)
Updated: 2007-03-13 11:02

Inflation in China reached 2.7 percent in February, official statistics showed Tuesday, increasing the pressure on the central bank to raise the interest rate.

Consumer price index, a key indicator of inflation, rose 2.7 percent year-on-year last month, up from the 2.2 percent growth in January, the National Bureau of Statistics (NBS) said in a report on its website.

A consumer shops at a super market in Shanghai January 10, 2007. Inflation in China might reach a two-year high in February, according to a poll of 21 economists by Bloomberg News, increasing the pressure on the central bank to raise interest rate. [newsphoto]
A consumer shops at a super market in Shanghai January 10, 2007. Inflation in China might reach a two-year high in February, according to a poll of 21 economists by Bloomberg News, increasing the pressure on the central bank to raise interest rate.  [newsphoto]
The price hike was mainly driven by rising food costs. Food prices surged six percent in February while non-food items rose just one percent, said the NBS. Among the food items, eggs and edible oil witnessed the biggest rises. They grew 30 percent and 17.4 percent, respectively.

The rural areas saw a bigger price increase than the urban areas, the report said, with a 3.2 percent growth for the farmers against a 2.5 per cent rise for the urbanites.

The combined increase for the first two month of the year is 2.4 percent. The People's Bank of China, the central bank, has set an annual target of 3 percent for inflation control.

The February figure was a sharp increase from the 1.5 percent rise in 2006, but slightly lower than the growth of 2.8 in last December.

The holiday generally distorts economic figures. China's biggest festival, the Lunar New Year fell in the middle of February this year and in mid-January last year.

Central bank governor Zhou Xiaochuan pledged to fight inflation Monday during a press conference on the sidelines of the annual session of the country's top legislature.

The current interest rate was appropriate, said central bank's vice governor Wu Xiaoling Sunday, according to reports. However, when asked about this issue again Monday, she refused to talk.

Ha Jiming, chief economist at China International Capital Corp. in Beijing, expected the central bank to raise the interest rate if finding the combined inflation number in January and February above 2.5 percent, according to the Bloomberg News.

However, an interest rate rise is expected to attract more "hot money" into China, said analysts, adding to the excess liquidity plaguing the central bank.

Reining in excess liquidity is a priority of Beijing's monetary policy, said Wu Xiaoling in an article published by the People's Daily in February. However, interest rate could hardly contribute to this end, said Wu.

At current inflation rates, after-tax bank deposit rates are negative in real terms, inviting depositors to withdraw their cash and pump it into property and stocks, raising the risk of asset price bubbles.

The central bank in February ordered lenders to set aside more money as reserves for the fifth time in eight months. Lenders must set aside 10 percent of deposits, up from 9.5 percent.

The central bank has raised its benchmark interest rate twice since April. The current one-year benchmark lending rate stood at 6.12 percent.

At the press conference on Monday, Zhou Xiaochuan sought to reassure investors that the domestic stock market was not in the middle of a downward trend and that the country would increase the part direct financing played in the financial system.

He also said the country would build the market in line with international standards so "people ... can better cope with any changes."

Zhou said other countries, including the United States, also suffer from problems caused by excess liquidity.

He added that market regulators should adopt a prudent and "slightly tightened" policy.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: xxx国产hd| 99热碰| 亚欧国产| 国内国外精品一区二区 | 最近手机高清中文字幕大全7 | 毛片免费视频网站 | 中文字幕精品一区二区精品 | 亚洲毛片免费视频 | 日韩一级视频在线观看播放 | 久久久久久久久久久视频国内精品视频 | 欧美成人做性视频在线播放 | 久久国产成人精品麻豆 | 伊人久爱| 久久久精品免费视频 | 在线观看一区二区三区视频 | 免费99视频 | 免费观看a黄一级视频 | 狼伊千合综网中文 | 亚洲精品国产第一区二区多人 | 亚洲一区二区三区不卡在线播放 | 久久亚洲一级α片 | 国产日本韩国不卡在线视频 | 国产成人一区二区三区 | 99国产精品视频久久久久 | 免费永久在线观看黄网 | 久久国产视频在线观看 | 午夜国产精品不卡在线观看 | 国产亚洲精品影达达兔 | 国产欧美日韩不卡在线播放在线 | 美女黄色在线看 | 久久国产精品免费网站 | 综合图片亚洲网友自拍10p | 黄色aaaa| 一本久 | 久久久精品一区 | 国产精品二区页在线播放 | 成人做爰 | 99精品视频免费观看 | 九九福利视频 | 久久er精品热线免费 | 亚洲欧美一级视频 |