China has admitted inflation pressures

时间：2007-02-14 06:22:06

（单词翻译:单击）

Chinanews, Beijing, February 14 – The People's Bank of China, the central bank of China, recently published its report on monetary1 policies in the fourth quarter of 2006, in which it admitted increasing inflation pressures in China for the first time ever.

 

The imbalance of payment, the drop of investment and the fall of credit have all contributed to current inflation.

 

In last December alone, CPI increased by 2.8%, a new high in the last 20 months, while the figure in last November was an amazing 1.9%.

 

According to the survey by the People's Bank of China among urbanites, the responders are not optimistic about the price levels in the near future. In fact, the price levels in the domestic market are expected to make a new record since 1999.

 

The People's Bank of China will implement2 more solid monetary policies to enhance macro control over the financing market, especially over the rise of credit, to guarantee the goal of increasing GDP by 8% and maintaining price level growth under 3%. The money supply, M2, is expected to increase by 16%.

 

In 2007, the People's Bank of China will work hard to improve liquidity3 management to provide a better financing environment for economic development. Special attentions will be paid to the marketization of exchange rate, thus it will work better as a price lever. The formation mechanism4 of the exchange rate of RMB will be enhanced, too, as it will be the ultimate way to regain5 balance of payment. The optimization6 of credit structure is another important goal in 2007. Besides, the central bank is confident in pushing forward the exchange rate reform and gaining a better control over foreign currencies.

 

It is estimated that there will be an interest rate hike in China, according to the attitude of the People's Bank of China.

 
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1 monetary pEkxb     
adj.货币的，钱的；通货的；金融的；财政的
参考例句：
  • The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
  • Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。
2 implement WcdzG     
n.(pl.)工具，器具；vt.实行，实施，执行
参考例句：
  • Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
  • The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。
3 liquidity VRXzb     
n.流动性，偿债能力，流动资产
参考例句：
  • The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
4 mechanism zCWxr     
n.机械装置；机构，结构
参考例句：
  • The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
  • The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。
5 regain YkYzPd     
vt.重新获得，收复，恢复
参考例句：
  • He is making a bid to regain his World No.1 ranking.他正为重登世界排名第一位而努力。
  • The government is desperate to regain credibility with the public.政府急于重新获取公众的信任。
6 optimization gIhxY     
n.最佳化，最优化；优选法；优化组合
参考例句：
  • Development of detergents has required optimization of the surfactants structure. 发展洗涤剂时，要求使用最恰当的表面活性剂结构。 来自辞典例句
  • In the case of productivity tools and other non-entertainment-oriented products, this optimization means minimizing work. 对于生产工具和其他非娱乐导向的产品而言，这意味着将工作负荷降至最低。 来自About Face 3交互设计精髓

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