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China's economic growth is expected to
exceed 11 percent for 2007 and growth in the consumer price index (CPI),
the main measure for inflation, will be around 4.5 percent year-on-year,
the central bank said Thursday.(Xinhua File Photo)
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BEIJING, Nov. 9 -- China's economic growth is
expected to exceed 11 percent for 2007 and growth in the consumer price index
(CPI), the main measure for inflation, will be around 4.5 percent year-on-year,
the central bank said Thursday.
China's trade surpluses will remain large but their
growth rate will gradually ease, the People's Bank of China said in its
third-quarter monetary policy report.
"The inflationary pressure on the whole remains large
and attention still needs to be paid to inflationary risks," the central bank
said.
This indicates further tightening measures, such as
interest rate hike, may follow, analysts said, although they were divided on the
timing.
"The central bank will probably raise the interest
rate, given its claim in the report and the expected strong economic indicators
for October," said Chen Xingdong, chief economist of BNP Paribas Peregrine
Securities. "It will meet with little opposition."
The central bank has raised the rate five times this
year.
"There is room only for once more by the year-end,"
he said.
The market has widely expected CPI growth to rebound
after easing to 6.2 percent in September from 6.5 percent in August. Chen said
it may reach 6.7 percent in October.
Goldman Sachs (Asia) released a report Thursday that
pointed to an expected 6.8 percent growth in CPI.
Liang Hong and Song Yu, Goldman Sachs economists,
also said in the report that two more interest rate hikes are possible by the
end of this year.
They raised their full-year 2007 CPI forecast to 4.8
percent from 4.5 percent and to 4.5 percent for 2008 from the previous 4
percent.
"One reason for the strong CPI growth is that the
base figure of last October is low," Chen said.
Grain and food prices have rebounded and energy
prices continue to rise, which have both contributed to CPI growth.
China raised prices of major oil products from
November 1, driven by the continually rising oil prices in the global markets.
The central bank said another factor for inflation is
rising salaries, which will push up overall price levels.
Economists expect China's economy will continue to be
strong. Fixed-assets investment, money supply and liquidity, apart from trade
surplus, will all remain at a high level.
The central bank said previous tightening measures
need time to materialize. Those factors, coupled with high prices, will add to
pressure on policymakers to further tighten the economy.
(Source: China Daily)
Central bank to further check excess liquidity,
inflation
BEIJING, Nov. 8 (Xinhua) -- The People's Bank of China
(PBOC) announced Thursday it might use a variety of measures, including bank and
treasury bond issues and reserve requirement ratios, to control the country's
"severe" liquidity problem.
A PBOC report gave no details about the extent of the
measures or when or how they would be implemented, but it stressed that
absorbing liquidity in banks and strengthening credit control could not
fundamentally tackle the constant and rapid accumulation of liquidity and other
structural problems. Full Story
BEIJING, Oct. 25 (Xinhua) -- China's consumer price index, a key inflation indicator, rose by 4.1 percent in the first nine months over the same period last year, the National Bureau of Statistics (NBS) announced on Thursday.
The CPI eased slightly to 6.2 percent in September after surging to an 11-year monthly high of 6.5 percent in August. Despite the slight drop in September, the CPI for the first nine months still climbed 0.2 percentage points from 3.9 percent for January to August.
Food prices jumped by 10.6 in the first nine months, said the bureau.
BEIJING, Oct. 25 (Xinhua) -- China's GDP was up 11.5 percent in the first nine months from the corresponding period last year, said the National Bureau of Statistics (NBS) here on Thursday.
GDP rose by 11.5 percent in the third quarter, compared with 11.9 percent in the second quarter and 11.1 percent in the first quarter.
China's GDP reached 16.6 trillion yuan in the first three quarters, with growth rate 0.7 percentage points higher than the same period of 2006.
BEIJING, Oct. 25 (Xinhua) -- China's fixed assets investment rose to 9,152.9 billion yuan (1,220.4 billion U.S. dollars) in the first nine months, up 25.7 percent from the same period last year, the National Bureau of Statistics (NBS) announced on Thursday.
The increase was 1.6 percentage points lower than the growth rate in the same period last year despite investment in fixed assets running at a high level, said NBS spokesman Li Xiaochao.
Investment in urban areas reached 7,824.7 billion yuan, up by 26.4 percent (24.8 percent in September), a drop of 1.8 percentage points from the first three quarters of 2006; investment in rural areas was 1,328.2 billion yuan, up by 21.2 percent.
