男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影
  Home>News Center>China
       
 

Experts: China may raise renminbi interest rate
By Xu Dashan (China Daily)
Updated: 2004-02-23 07:52

There is a possibility that China might raise interest rates this year to counter continually rising consumer prices and investment growth, experts said.

The country's consumer price index (CPI), policy-makers' key inflation gauge, rose a year-on-year 3.2 per cent in January and last December, the highest since April 1997 when it was also up a year-on-year 3.2 per cent.

Higher consumer prices would have a negative impact on consumer habits, said Yuan Gangming, a senior economist with the Chinese Academy of Social Sciences.

Due to increasing worries on further price hikes, people try to save as much money as possible, he said.

However, the benchmark one-year bank deposit rate is set at 1.98 per cent.

"People are losing out when they save their money in banks because of low interest rates ," he said.

Last year, the CPI rose a year-on-year 1.2 per cent.

"There are some early inflationary signs," said Wang Zhao, a researcher with the State Council's Development Research Centre.

The government's proactive fiscal policy, even if it shifts its focus from supporting economic development to sustainable development, would add fuel to the possibility of inflation, he said.

He added that fiscal policy stimulates both investment and consumption.

Qiu Zhaoxiang, a professor at Beijing's University of International Business and Economics, said the Government needs to adjust its interest rate policy to deal with the possible overheating economy and inflation.

China's economy, fuelled by the 26.7 per cent growth in fixed asset investments, grew a year-on-year 9.1 per cent last year.

Investment in industries such as real estate, steel and cement has become overheated, he said.

The three economists agreed that if consumer prices and investment continues the rapid growth momentum in the months ahead, the central bank is likely to increase interest rates for the first time in eight years.

Zhou Xiaochuan, the governor of the People's Bank of China, said last week the Government would give key attention to curbing inflation this year.

"The central bank will use various instruments to adjust credit growth," the central bank governor said.

The Government has already taken a series of measures to control the money supply since last year.

After increasing the money supply to keep the economy growing quickly and fight the deflation which emerged during the Asian financial crisis of 1997-98, the central bank began tightening credit last year.

With the aim of further controlling the money supply, the central bank also issued a rule last year tightening controls on loans to the fast-growing real estate industry.

But commercial banks continue to lend aggressively to real estate industry in pursuit of bigger market share.

The central bank also required construction companies to stop letting developers use their working capital bank loans, a widespread practice it said had increased the construction firms' financial burdens, and only use them to buy construction equipment.

For home buyers, the central bank allowed commercial banks to raise downpayment requirements for their second homes, luxury housing and town houses.

Meanwhile, the central bank raised the reserve ratios for commercial banks.

The measures seemed to be working. Money supply growths lowed down in the past five months to January.

Earlier figures suggest that in January, the broader money supply, or the M2, grew 18.1 per cent compared with the same month last year.

The growth rate was 1.2 percentage points lower than the same period last year.

 
  Today's Top News     Top China News
 

Office: Beijing watches Taiwan developments closely

 

   
 

State tightens farmland protection

 

   
 

Doctor starts 49-day fast to test TCM regimen

 

   
 

Fighting follows Afghan minister's killing

 

   
 

China values military ties with neighbors

 

   
 

Dads ask: 'Is this my child?'

 

   
  Three Gorges Dam Project sparks new relocation
   
  Long March III A chosen for lunar mission
   
  Education key to ending sex trade
   
  China values military ties with neighbors
   
  Going-west still a top development strategy
   
  Office: Beijing watches Taiwan developments closely
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  Are the Chen-Lu shootings a fabricated hoax or an amateurish bungling  
Advertisement
         
主站蜘蛛池模板: 定边县| 铁岭市| 宝山区| 雷波县| 佛坪县| 西宁市| 蓬莱市| 聂拉木县| 正阳县| 城固县| 巴塘县| 蓬溪县| 吴旗县| 高雄市| 宝坻区| 秭归县| 泗水县| 朝阳市| 中牟县| 股票| 浦北县| 彰化县| 尚志市| 弋阳县| 大渡口区| 宣化县| 浙江省| 来安县| 唐河县| 宁阳县| 中阳县| 新和县| 靖西县| 临朐县| 五峰| 瓦房店市| 永登县| 鹰潭市| 巴南区| 奇台县| 佛坪县| 汽车| 山阳县| 抚宁县| 瑞昌市| 喀喇沁旗| 晋城| 东乡| 东丽区| 定州市| 集贤县| 东兰县| 罗源县| 义马市| 蒙城县| 红河县| 沂源县| 丹棱县| 红桥区| 布拖县| 武威市| 区。| 交城县| 东光县| 区。| 淮滨县| 安达市| 安泽县| 平乡县| 项城市| 金门县| 赤城县| 轮台县| 麻阳| 武汉市| 临泽县| 巴彦淖尔市| 怀远县| 汉源县| 黔西县| 北碚区| 焦作市|