Editors' note: Inflation is for real, as recent experience shows. How can it be prevented from rising further? The central government has taken a set of emergency measures to prevent a further increase in the consumer price index (CPI), which rose to 4.4 percent in October, the highest in 25 months. The continuous rise in the CPI, a measure of inflation, is creating obstacles for the government to keep the entire year's inflation below 3 percent.
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People choose vegetables in Daxingfa supermarket in Beijing, capital of China, Nov 29, 2010. Dealing with rising vegetable prices, some supermarkets lowered the price by 5-10% by purchasing directly from farmers to cut the middle agents. [Photo / Xinhua] |
The State Council, China's Cabinet, said on Nov 30 it will revise penalties to further crack down on price violations in order to tackle inflation.
The revised code will mainly target price manipulation, collusion, malicious hoarding and the spreading of false information, a statement issued after a State Council executive meeting presided over by Premier Wen Jiabao said. Full story
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China puts 8.5m tons of grain reserve on market
China's top economic planner said on Nov 26 that the country released 8.5 million tons of State-reserved grain and cooking oil from Nov 23 to 26 to ensure market supply meets the demand and to stabilize prices.
A total of 25.5 million tons of State-stockpiled grain and cooking oil had been released on the market since the end of October, the National Development and Reform Commission (NDRC) said in a statement on its website. [Full story]
Central bank pledges to intensify fight against inflation
China's central bank on Nov 24 vowed to "steadily guide credit expansion back to normal levels" and strengthen liquidity management in an effort to curb inflation and cool rising inflation expectation.
The central bank will make full use of its policy tools, including the reserve requirement ratio and interest rate, to steer money and lending growth back to normal levels, said Hu Xiaolian, deputy governor of the People's Bank of China (PBOC), according to a statement posted on the central bank's website. [Full story]
Local gov'ts subsidize low-income earners
Beijing will hand out temporary subsidies to low-income earners to help them cope with rising living costs, said a spokesperson with the municipal government on Nov 23.
Beijing is just one of a number of local governments in China offering subsidies to help low-income earners battle surging living costs.
This one-off subsidy is to help those suffering from increased living costs due to recent price hikes. The municipal civil affairs bureau would also adjust the standard of social assistance in accordance with the trend of the prices next year, he added. [Full story]
China takes steps to guarantee domestic oil supply
China's Ministry of Commerce (MOC) on Nov 22 told local bureaus to ensure ample supply of fuel amid rising inflation.
Local commerce authorities should "coordinate oil producers to increase production to meet demand, and reasonably allocate resources to keep prices stable," the MOC said in a statement posted on its website.
The ministry asked local authorities to keep a close watch on the market, and work out contingency plans to cope with increased demand for oil during the winter. [Full story]
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Trend of China's CPI and PPI
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China's Oct CPI rises 4.4% Surging food prices pushed up China's consumer price index (CPI), a major gauge of inflation, to a 25-month high of 4.4 percent in October, the National Bureau of Statistics (NBS) said on Nov 11. The figure topped the market forecast of around 4 percent and was sharply up on September's 3.6-percent growth. [Full story] |
China's Oct PPI up 5% China's producer price index (PPI), a major measure of inflation at the wholesale level, rose by 5 percent in October from one year earlier, the National Bureau of Statistics (NBS) said on Nov 11. The growth rate was 0.7 percentage point higher compared with that in August. [Full story] |
China Economy by Numbers in 2010
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Debate: High inflation Inflation is for real, as recent experience shows. How can it be prevented from rising further? A scholar wants the government to review the monetary policy and a commentator says it should change it to check inflation. [Full story]
Conquer inflation The ongoing war against soaring consumer prices is one that the Chinese government must fight and fight well. [Full story]
Inflation does matter in China and the world The growth rate of China's consumer price index (CPI) was 4.4 percent year-on-year in October, a 25-month high. The rate is up 0.8 percentage points from September. This is an alarming statistic for a country that for the past three decades has had steady economic growth. Inflation risks do matter for China. [Full story]
Prices haven't been controlled The government has announced that it will take measures to control rising prices. But it has to do more than that to win the confidence of the people, says an article in Guangzhou Daily. [Full story]
More readings 'Soft landing' for Chinese economy? Tightening moves matter |
Produced by Qiang Xiaoji |
