- CNTV English - CCTV News

NDRC: Excess liquidity causes rapid growth of consumer prices

11-11-2010 13:52 BJT

Watch Video

Play Video

China's top economic planner says the country has the means to control inflation, although price levels will remain high for the rest of the year.

Speaking in an interview, Zhou Wangjun, an official with the National Development and Reform Commission, gave his forecast for China's annual CPI growth rate.

Zhou Wangjun, Official of NDRC said "We expect the whole year's CPI growth rate will be a little more than 3 percent. But this forecast is still within our expected goal set early this year."

Zhou also says consumer inflation will likely rise in October and November, before slowing in December.

Zhou attributes the current rapid growth of consumer prices to excess liquidity on the global market, rather than supply shortage, which had been the major cause in previous years.

Zhou also notes some uncertain factors, including natural disasters leading to growing consumer prices.

According to Zhou, China's urbanization and industrialization have shifted labor, capital and land resources from rural areas. That's resulted in raising costs of agricultural production in these areas.

He also blames hot money speculation for pushing up some agricultural product prices. He says measures should be taken to control such activities.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program