国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Wen pushes to contain pork prices

Updated: 2011-07-12 09:22

By Chen Jia (China Daily)

  Comments() Print Mail Large Medium  Small 分享按鈕 0

Consumer price stability top priority for government, Premier says

Wen pushes to contain pork prices

Consumers shop for pork products at a Carrefour store in Shanghai on July 10, 2011.?[Photo/Xinhua]

BEIJING - Premier Wen Jiabao told government departments to take immediate measures to support pork production and increase supplies to prevent a surge in the price of the meat, a key factor pushing up China's inflation rate.

During a weekend visit to Shaanxi province, Wen said that keeping consumer prices stable and taming inflation remain the government's top priorities.

The government will not change the direction of its macroeconomic policies, and it will work hard to achieve economic and social development goals, said Wen.

Fast-rising pork prices were a key factor pushing up the consumer price index (CPI) a main gauge of inflation to 6.4 percent in June, a three-year high, the National Bureau of Statistics (NBS) said on Saturday.

"To stabilize pork prices is the government's unavoidable responsibility" because of pork's importance in the Chinese diet, said Wen.

According to the NBS, pork prices increased 57.1 percent year-on-year in June. The gain accounted for 1.37 percentage points of the CPI increase.

Pork prices jumped by 11.4 percent month-on-month in June, following a gain of 2.6 percent in May, said the NBS.

Lower pork prices in 2010 drove many farmers to give up breeding pigs, Li Chaoxian, a leader of a small village in Shaanxi province, told Wen, according to the website of the Chinese government, www.gov.cn.

Soaring costs for corn (the main component of pig feed) and labor also drove up pork prices, said Li.

China's inflation was 5.5 percent in May and 5.3 percent in April.

Premier Wen said in London on June 26 that it will be difficult to keep the full-year inflation rate below 4 percent.

To stabilize consumer prices and drain liquidity, the People's Bank of China, the central bank, raised one-year benchmark interest rates by 25 basis points effective on July 7. It was the third hike this year.

Wen pushes to contain pork prices
Further, the central bank has raised the required reserve ratio (RRR) for commercial banks six times in 2011. As a result, many smaller companies are finding it difficult to borrow money.

Some economists argued that tight monetary policies might slow China's economic growth and the government should be mindful of the risks of a hard landing.

Li Xunlei, an economist at Guotai Junan Securities, said that the CPI is likely to decrease in the second half of this year, "but it depends on how much pork prices can decrease".

Li predicted that the CPI in July might remain above 6 percent, but it is expected to fall in the fourth quarter.

A research note from Nomura Holdings Inc said that because inflation might stay high in the coming months, the central bank might hike interest rates again in the third quarter, despite signs of a deceleration in the economy.

沁源县| 竹北市| 南皮县| 藁城市| 东城区| 瑞丽市| 邛崃市| 上饶市| 长治市| 吉木萨尔县| 彰武县| 吉木萨尔县| 德格县| 赤壁市| 白山市| 福泉市| 偃师市| 喀喇| 宜章县| 阿拉善左旗| 阜康市| 恩施市| 体育| 仙桃市| 巩留县| 南靖县| 文山县| 卓资县| 镇康县| 赞皇县| 民权县| 申扎县| 青冈县| 汝城县| 榆林市| 安泽县| 长葛市| 锦屏县| 怀柔区| 大宁县| 抚远县|