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China said to set 2011 inflation target higher at 4%
By Wang Yanlin |
November 24, 2010, Wednesday
|
Online Edition
Online Edition
CHINA may raise the inflation target for next year to 4 percent from this year's 3 percent during the Central Economics Working Conference to be held soon, the China Business News reported today, citing an unidentified source who has consulted on policy.
The country may also make an official announcement to tighten its monetary policy stance in a bid to stabilize prices and fight against inflow of speculative capital, the newspaper said.
The government may announce to shift from a "moderately loose" to a "prudent" monetary policy during the annual meeting, the source told the newspaper. The yearly target of new yuan loans may be cut to 7 trillion yuan (US$1.05 trillion) next year from this year's 7.5 trillion yuan.
The conference is designed to set the tone for next year's economic growth and it usually takes place at the end of the year. In 2009, the conference was held from December 5 to December 7, and made "economic restructuring" a major task for this year.
The country may also make an official announcement to tighten its monetary policy stance in a bid to stabilize prices and fight against inflow of speculative capital, the newspaper said.
The government may announce to shift from a "moderately loose" to a "prudent" monetary policy during the annual meeting, the source told the newspaper. The yearly target of new yuan loans may be cut to 7 trillion yuan (US$1.05 trillion) next year from this year's 7.5 trillion yuan.
The conference is designed to set the tone for next year's economic growth and it usually takes place at the end of the year. In 2009, the conference was held from December 5 to December 7, and made "economic restructuring" a major task for this year.
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