China focuses on prices
By Fu Chenghao |
August 27, 2010, Friday
|
Print Edition
Print Edition
CHINA will strengthen price management in the second half of this year to lower inflationary expectations, the head of China's top planning agency said yesterday.
The government will use multiple monetary policy tools and further improve liquidity management, and continue to guide credit growth, Zhang Ping, director of the National Development and Reform Commission, said in a report delivered to the National People's Congress, China's top legislature.
On property, Zhang said prices in major cities still remain high, calling price control an "arduous" task, though initial progress has been made in cooling runaway prices.
The remark indicated no imminent end for the tightening policies in property which began in April, when the government raised down payments and tightened lending.
China will continue to implement policies to curb speculation in the property sector and boost home supply in the second half, Zhang said.
He also said prices for agricultural products are expected to remain high in the second half, which will put pressure on inflation.
He said that there is difficulty in boosting grain production this year, citing natural disasters and poor infrastructure.
In a wide-ranging report, Zhang also said China will accelerate drawing up policies to help more private companies to enter industries encouraged by the government.
The government will use multiple monetary policy tools and further improve liquidity management, and continue to guide credit growth, Zhang Ping, director of the National Development and Reform Commission, said in a report delivered to the National People's Congress, China's top legislature.
On property, Zhang said prices in major cities still remain high, calling price control an "arduous" task, though initial progress has been made in cooling runaway prices.
The remark indicated no imminent end for the tightening policies in property which began in April, when the government raised down payments and tightened lending.
China will continue to implement policies to curb speculation in the property sector and boost home supply in the second half, Zhang said.
He also said prices for agricultural products are expected to remain high in the second half, which will put pressure on inflation.
He said that there is difficulty in boosting grain production this year, citing natural disasters and poor infrastructure.
In a wide-ranging report, Zhang also said China will accelerate drawing up policies to help more private companies to enter industries encouraged by the government.
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