Keeping Prices Stable Seen As Top Priority
Source: Agencies |
August 26, 2011, Friday
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Print Edition
Print Edition
STABLE prices remain the top priority for the Chinese government, but any policies must not hurt economic growth, Finance Minister Xie Xuren said yesterday.
The government will ensure appropriately fast economic growth, while managing inflation expectations, Xie said in a report to the National People's Congress.
"We need to stabilize prices as the top priority. We will slow price rises, but avoid causing big fluctuations in economic growth," Xie said.
The government will make its macro-economic policies more targeted, flexible and forward-looking and implement policies based on domestic and global economic conditions, Xie said.
His comments underscored the official concerns about slowing economic growth, particularly amid market jitters the United States could fall into a new recession. But few analysts expect the government to relax monetary policy in the near term, after annual inflation in China hit a three-year high of 6.5 percent in July.
The government will ensure appropriately fast economic growth, while managing inflation expectations, Xie said in a report to the National People's Congress.
"We need to stabilize prices as the top priority. We will slow price rises, but avoid causing big fluctuations in economic growth," Xie said.
The government will make its macro-economic policies more targeted, flexible and forward-looking and implement policies based on domestic and global economic conditions, Xie said.
His comments underscored the official concerns about slowing economic growth, particularly amid market jitters the United States could fall into a new recession. But few analysts expect the government to relax monetary policy in the near term, after annual inflation in China hit a three-year high of 6.5 percent in July.
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