Monetary Policy Easing Space Big CPI Needs Breakthrough

In line with the rapid advance of the policy of steady growth in recent years, economic growth is expected to improve in the two quarter of this year.

Since last September, CPI has fallen back to the "1 era" in 7 consecutive months. According to the data released by the National Bureau of statistics in April 10th, the national consumer price index (CPI) decreased by 0.5% in March 2015, up 1.4% compared to the same period last year, and CPI rose 1.2% in the first quarter of this year. The analysis shows that deflation pressure is still a major contradiction in prices, and monetary policy is still very relaxed.

In March, affected by seasonal factors after the Spring Festival, CPI fell by 0.5%, of which the price of food decreased by 1.6%, and the prices of fresh vegetables, eggs and pork decreased.

However, despite the decline in the CPI ratio in March, prices of some goods and services still rose, such as the rise in gasoline and diesel prices. Bank of communications Financial Research Center believes that price level Low level steady operation, keep low Inflation situation For monetary policy It provides space for pine adjustment.

For the reasons for the decline of CPI in March, Yu Qiumei, a senior statistician of the city Bureau of the National Bureau of statistics, said that it was mainly affected by the price adjustment after the Spring Festival. After the holiday, residents' demand for some fresh foods decreased, and the prices of eggs, aquatic products and meat and poultry decreased. At the same time, the climate conditions improved, fresh vegetable prices fell more, and workers returned to the city one after another, some service prices were callback, and the number of trips decreased significantly after the long holiday, and the price of air tickets and tourism dropped.

Xu Gao, chief economist of Everbright Securities, said deflation pressure is still a major contradiction in prices, and monetary policy is still very relaxed. Weak economic growth requires loose monetary policy to support the bottom, and weak inflation also leaves room for monetary easing.

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Northeast China has good foundation, great potential and strong explosive force.

Li Keqiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, chaired the Symposium on economic work in Northeast China in Changchun, analyzed the new situation and outstanding problems facing the northeast economy, and studied the related work of promoting northeast development. At the forum, Ba Antsoru, Secretary of the Jilin Committee, governor Jiang Chaoliang and governor of Liaoning Li Xi and governor Lu Hao of Heilongjiang reported the economic and social development of the province, and discussed the plan and suggestions for the next step.

Li Keqiang said that the northeast is full of importance in the overall national strategy. It is an important industrial base and a large barn to ensure food security. The CPC Central Committee and the State Council attach great importance to the development of Northeast China. Last year, the state issued special opinions on recent major policy initiatives to support the revitalization of the northeast, and these policy effects are emerging. At present, the national economy is running smoothly, but the downward pressure continues to increase. Due to the fact that the energy and raw materials industry and heavy chemical industry are more important than the northeast, the impact of the changes in the international market and domestic demand is even more obvious. Coupled with the lag of institutional reform and some internal factors, the downward pressure on the economy is even greater. We must comprehensively and accurately judge and grasp the trend of the economy and take effective measures to solve the development problems.

Li Keqiang pointed out that to promote the smooth operation of the northeast economy, several important issues should be highlighted. First, we should start a number of major infrastructure projects that can enhance the stamina of development. We should increase investment in public goods and services such as spanportation, water conservancy and urban underground pipelines, and some "mature" and "urgent" 13th Five-Year projects can be started in advance. Policy oriented financial institutions should actively support them. Two, efforts should be made to expand consumption. We should give full play to the unique advantages of Northeast China, accelerate the development of new industries such as tourism, pension, health and other industries, and develop new consumption hot spots. Three is to speed up the spanformation of shanty towns and other major livelihood projects. The shed change in the coal mining subsidence area should be completed in the tenure of the current government, and really spanform the "worry room" into the "warm Atrium" of the masses. Four, we should give full play to the advantages of many key enterprises in Northeast China, promote the equipment manufacturing industry to go out and launch international production capacity cooperation, and study the establishment of Northeast Revitalization industrial investment fund, so as to promote the spanformation and upgrading of northeast equipment in the world and bring more support and employment.

Li Keqiang said that the state will increase support in infrastructure construction, agricultural development and equipment going out. Cadres at all levels in Northeast China should shoulder the responsibility of revitalizing their tasks in accordance with the "four overall" strategic layout and take the responsibility of starting a business as an undertaking, seeking development and catching up with the actual livelihood of the people as their biggest responsibility. They should boost their spirits and strengthen their confidence. Confidence not only comes from encouraging morale, but also comes from doing solid work and taking the initiative as a way to tackle tough problems and ensure the goal of economic and social development in the whole year.

Li Keqiang pointed out that development is the key to solving all the problems in China. We must effectively withstand the downward pressure, otherwise people's livelihood problems such as employment and income will be greatly affected, and upgrading the quality and efficiency of the economy will be difficult to achieve. All localities and departments must enhance their sense of urgency and sense of responsibility. As a matter of urgency, ensuring steady growth, ensuring employment and improving efficiency, we should introduce more measures to improve current and long-term benefits so as to promote reform and structural adjustment and promote stable economic operation. For the northeast, to achieve a new round of revitalization, we must rely on reform to increase momentum and open up space. We should make great efforts to push forward decentralization and decentralization. To promote Zhongguancun (000931) policies related to independent innovation in Northeast China. We should carry forward the spirit of daring to forge ahead and create a fertile land for public entrepreneurship and innovation. We should actively promote the reform of state-owned assets in state-owned enterprises, support the pilot projects set up by central enterprises in Northeast China, vigorously develop small and medium enterprises and private economy, and carry out the pilot reform of private economic development. We should do a good job of opening this article, make good use of the coastal economic belt, improve the open cooperation platform such as border crossings, innovate the cooperation mode and raise the level of opening up.