China able to keep inflation around 4%

Updated: 2011-03-09 10:58


Twitter Facebook Myspace Yahoo! Linkedin Mixx

BEIJING - China is capable of keeping inflation around 4 percent this year if the central government's policies are well implemented, China's former chief statistician said on Tuesday.

Related readings:
China able to keep inflation around 4% Inflation putting heat on govt
China able to keep inflation around 4% Inflation to continue falling in Feb: official
China able to keep inflation around 4% Inflation may peak in second quarter
China able to keep inflation around 4% Will China's inflation spiral out of control?

"The abundant supply of farm produce is key to curb inflation. We should take all necessary measures to increase agriculture production," said Li Deshui.

Bank lending should focus on rural areas and agriculture development, said Li, also a member of the National Committee of the Chinese People's Political Consultative Conference, which is convening its annual session.

China targets four percent of Consumer Price Index (CPI) this year. CPI rose 4.9 percent year on year in January, higher than the 4.6 percent in December but lower than a 28-month high of 5.1 percent in November.

Premier Wen Jiabao said in this year's government work report that an oversupply in major industrial products and ample grain reserves after seven straight years of good harvests gives the government room to fight inflation.

China's inflation rate in February was likely to be lower than that of January, Li Pumin, a spokesman of the National Development and Reform Commission (NDRC), said during an online interview on Tuesday.


NPC & CPPCC sessions

Lawmakers and political advisers gather in Beijing to discuss major issues.

Self-made aircraft

An automobile mechanic in Northeast China made a test flight of his self-made aircraft which cost about US$395.

Venetian Carnival

Masked revellers celebrate in Saint Mark's Square in Venice.

All about the Year of the Rabbit
President Hu visits the US
Ancient life