皇冠体育app

皇冠体育app Development and Reform Commission Minister Ma Kai said over the weekend that the country will adopt a tight monetary policy while continuing a prudent fiscal policy.

Ma Kai. [Xinhua/File Photo]

Ma made the remarks at the first high-profile economic dialog between 皇冠体育app and Japan held Saturday in Beijing.

Observers in Beijing said over the past few years, 皇冠体育app had adhered to a moderately tight monetary policy. This time, Ma, head of the country's top economic planning agency, took off the word "moderately."

Also at the Sino-Japanese economic dialog, Finance Minister Xie Xuren said 皇冠体育app would make use of various monetary instruments to intensify credit control.

皇冠体育app's central bank has this year raised the reserve-requirement ratio for commercial banks nine times and interest rates five times.

Observers reckoned a sixth rate hike for the year was around the corner.

皇冠体育app has paid growing attention to the mounting inflationary pressure after the country's consumer price index (CPI) recorded a10-year-high rise of 6.5 percent in October.

In addition, the Political Bureau of the Central Committee of the Communist Party of 皇冠体育app convened a meeting last week and said next year's top macroeconomic priorities would be in preventing the economy from overheating and the current price increases from evolving into "evident inflation."

The observers believed 皇冠体育app would continue to face high inflationary pressure next year. In international markets, oil prices would continue their exposure to high volatility and grain prices would keep rising.

In the domestic market, high food prices would likely give rise to the price of labor and then the production cost in different sectors.

Yu Yongding at the research institute of world economy and politics under the Chinese Academy of Social Sciences said that four percent was the CPI ceiling that 皇冠体育app could tolerate. If the inflation indicator increased higher it would send a signal to the central bank that a tight monetary policy was necessary.

Zhuang Jian, chief economist of the Asian Development Bank in 皇冠体育app, said the monetary policy had played an important role in 皇冠体育app's macroeconomic control and it would be indispensable for the country's future economic regulation.