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Free AccessMNI POLICY: NDRC:China to Keep Inflation Stable Amid Trade War
By Iris Ouyang
BEIJING (MNI) - China has the capacity to counter the impact of a changing
external environment on its inflation, China's National Development and Reform
Commission said Thursday, against the backdrop of a trade war with the U.S.
"There are some changes in both the domestic and external environments,
particularly an increase of trade protectionism," said Yue Xiuhu, director
general of the Pricing Division of the NDRC, adding that more fluctuations in
the international commodity market and financial market have significantly
increased uncertainties.
"However, the domestic environment is the deciding factor," he said.
"China's inflation in the second half of this year will maintain stable growth
in a reasonable range, and we are fully capable of countering any effects caused
by the outside environment."
Demand and supply of goods in the country remains balanced as the economy
is expected to remain stable and move in a positive direction, Yue noted,
shrugging off concerns that the ongoing trade war could cause a higher inflation
rate domestically.
The accelerated upgrading of consumption and industrial production, the
growth of emerging new economic sectors, and the central government's
macro-control toolbox will ensure inflation remains stable, Yue added.
The NDRC will closely monitor price changes in the market, and supervise
the changes to stabilize pricing. It will also provide subsidies to low-income
groups affected by related price changes, Yue stated.
China will enhance quality and expand volume of consumption, particularly
in service consumption, and will also increase consumption of information
technology products and consumption in its vast countryside.
The NDRC also said the country's retail sales growth would rebound after
the effects of short-term factors ease, such as delayed car purchases in May and
June due to lower tariffs on imported vehicles starting in July.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MI$$$$,MGQ$$$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.