Central Bank: Inflation Pressure Is Still Larger &Nbsp; Maintain Appropriate Monetary Conditions.

The central bank reminded in its 2010 annual report of the people's Bank of China. Price The overall level of upward pressure will still be greater. Monetary policy should put the overall level of stable prices in a more prominent position, continue to strengthen liquidity management, and maintain suitable monetary conditions conducive to a basically stable price level.

　　 Economics It is expected to maintain steady and rapid development.

The central bank pointed out that although the situation facing China's economy is extremely complicated this year, the difficulty of macroeconomic regulation and control is further increased, but it is expected to continue to maintain steady and rapid development.

The reason is that the central bank believes that 2011 is the year when the year 12th Five-Year begins. Investment The policies and measures for accelerating the cultivation and development of strategic emerging industries, speeding up the construction of affordable housing and shanty towns, encouraging and guiding private investment, and various regional development strategies are playing a role. The investment growth will still maintain a certain speed on the basis of structural optimization. With the increasing adjustment of income distribution structure and the upgrading of consumption structure, the consumption potential of residents will be further released.

Risk or increase of international capital return

The central bank is cautious about the global economy. The report states that the slow recovery of the unemployed in the developed economies will not change significantly in the short term, and that the credit market is still tight. Sovereign debt risk, fiscal consolidation and high unemployment will also affect demand recovery. Higher commodity prices and excess liquidity may further exacerbate global inflationary pressures.

The central bank has warned that the pace of withdrawal of stimulus policies and the slowdown of economic growth in emerging economies will increase the risk of international capital return.

It is hard to avoid rising price trend.

The central bank also reminds potential inflation risks. The central bank said that despite the favorable conditions for stabilizing prices, the overall pattern of global liquidity easing has not changed significantly. Cyclical inflationary pressure is bound to rise as the global economy picks up further. Influenced by many factors, international commodity prices are likely to continue to rise, and the inflationary pressures of China should not be ignored.

At the same time, under the influence of medium and long-term factors such as labor cost, land cost and the promotion of resource price reform, the general trend of price increase is inevitable. The pressure on the overall level of stable prices will remain larger. Macroeconomic regulation and control will take the overall level of stable prices as the primary task.

In the next stage, the central bank will continue to implement a prudent monetary policy and put the overall level of stable prices in a more prominent position. The first thing to do is to continue to strengthen liquidity management and keep monetary and credit growth moderately. The central bank will, according to the changes in the economic and financial situation and foreign exchange movements, make comprehensive use of various monetary policy tools, rationally arrange the monetary policy tool combination, term structure and operation intensity, strengthen liquidity management, maintain a reasonable and moderate liquidity in the banking system, and properly handle the total liquidity gate to promote moderate growth in monetary and credit. We should strengthen the monitoring and regulation of the total amount of social financing, and maintain a reasonable scale and pace of social financing. While meeting the needs of rational development of economic development, we should maintain appropriate monetary conditions conducive to a basically stable price level.