Chinese Vice Premier: Curbing inflation becomes China's priority

Vice Premier Li Keqiang says China faces inflationary pressure, and the government's top priority is tackling the rapid increases. Earlier this week, Premier Wen Jiabao pointed out, before kicking off his European tour, that authorities are confident of keeping prices under control. CCTV reporter, Yin Hang, has the details from downtown Beijing.

Vice Premier Li Keqiang said in Saturday's opening speech at the Second Global Think Tank Summit, hosted by the China Center for International Economic Exchanges, that the international economic recovery faces many uncertainties, with some countries experiencing sovereign debt problems, and others staring at the risk of a downturn.

Li points out that a major problem now confronting China is inflation. He adds that the current top macro-economic control priority, is tackling soaring prices.

Chinese Vice Premier Li Keqiang addresses the opening ceremony of the Second Global Think
Tank Summit in Beijing, capital of China, June 25, 2011. (Xinhua/Pang Xinglei)

Li said, "China's economy has maintained stable and comparatively fast growth momentum this year. But China also faces mounting inflationary pressure. China has listed inflation as the top priority of its macro-economic regulation priority. We will strike a balance between economic growth and curbing inflation."

Li added that countries should coordinate their efforts to cope with the financial crisis, and work together to stem inflation.

Chinese Vice Premier Li Keqiang (L, back) addresses the opening ceremony of the Second
Global Think Tank Summit in Beijing, capital of China, June 25, 2011.
(Xinhua/Pang Xinglei) (zgp)

Premier Wen Jiabao said in a statement that he's confident that China can keep inflation under control this year.

In Friday's edition of the Financial Times, Wen wrote "There is concern as to whether China can rein in inflation, and sustain its rapid development. My answer is an emphatic yes."

Food inflation has been accelerating in recent weeks, followed by natural disasters in several parts of the country. The volatility in global commodity prices adds additional challenges for China, and other emerging economies.

China's top economic planner, the National Develop and Reform Commission, said this week that inflation may accelerate this month, and "remain elevated for months."

Chinese vice premier warns of worldwide inflation risk

BEIJING, June 26 (Xinhua) -- Chinese Vice Premier Li Keqiang on Saturday warned the risk of a worldwide inflation while the world strives for an economic recovery.

Facing a common challenge of inflation, all countries should increase the coordination of their macroeconomic policies to ensure economic growth while reining in inflation, he said at the Second Global Think Tank Summit currently held in Beijing. Full Story>>

Editor:Du Xiaodan |Source: CNTV.CN


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