BEIJING - China's top of economic planner blame speculators for some of the recent surge in food prices, while the Central Bank local financial institutions lending asked how Beijing to keep to crop efforts to fast-growing Chinese economy in check.
With the country's consumer price index a beat 25-month high last month appliance.the policymakers are concerned high food prices by wider inflation flow index rose 4.4% in October, powered by a 10.1% increase in food prices that make up one third of the CPI basket.
Authorities are also concerned about excessive liquidity: China aims set for new Yuan lending this year 7.5 trillion yuan ($ 1.1 trillion), the risks from the massive stimulus program include it to combat the effects of the global financial crisis unternahm.Aber in the first 10 months of the year, banks issued new Yuan loans totalling 6.88 billion yuan, i.e., you would need to slash funding during the last two about 310 billion yuan to ensure goal can be achieved.
The desire, the year loan target reach asked the Central Bank Wednesday to control local financial institutions to ask their lending in November and December.
"China liquidity in the banking system reasonably appropriate to create a healthy environment for the basic stability of the general price level should keep" said people's Bank of China Deputy Governor Hu Xiaolian, following a statement published on the PBOC's website Wednesday.
Confirms that China strengthens liquidity management with monetary policy tools, and is still money supply and credit to normalisieren.Ihre suggest comments, especially on the credit China further tighten monetary policy, as inflationary pressures increase and the USA's additional quantitative easing measures global liquidity boost.
The national development and Reform Commission's statement in the meantime, took a harder sound than the previous, listing many market activities which are regarded as illegal.
"There are many signs that floating capital and illegal operators have fraud, collusion, hoarding or other illegal means used to manipulate some raw material prices, and this is a direct driver of the increase in the prices of some agricultural products," the planning agency in a statement Wednesday.
Agricultural dealers and manufacturers, the fictional price information, hoarding to distribute products that are in short supply or manipulate, futures markets are heavily penalised, said the NDRC in his latest statement.
"The Government never people to profit from illegal activities will allow," said the statement.
However, many economists think that the effects are hoarding or speculation limited, and these actions do not fully explain the broader rise in food prices.Tian Zhihong, Professor at the China Agricultural University said rising labor costs in rural areas, an important reason for the increase of food prices.
"But the Government manage more aggressive action prices held Xu Wenjie, agricultural analyst at Zhejiang-based Zheshang futures co, said Wednesday.""" Policy of the Government to curb inflation now are very hard,"said Mr. Xu.""Certain administrative instead of market regulation measures," he added.
The NDRC statement said it much speculated in China cotton market in recent weeks with some non-licensed companies to buy the market entry and keep cotton, said the NDRC Anweisung.Chinas cotton price has increased, with cotton for September 2011 delivery the most active cotton Treaty of Zhengzhou commodities exchange, beat a record 33,600 Yuan per ton 11 Nov. to 19,000 yuan per tonne on Sept. 10.Der cotton contract concluded for 25,880 Yuan Wednesday.
In July, NDRC Preisinformationen.Aber misleading a penalty of a million Yuan at an Jilin-based corn dealer for price manipulation and dissemination imposed the Government limited attention to food prices.
The NDRC said on Tuesday it will crack on profiteering from diesel sales, the following sharp amid domestic bottlenecks price increases. some independent refineries and fuel wholesale units State refineries were found, sold to diesel at prices above levels set by the Central Government, and get heavy fines of NDRC told you.
The Government has taken even broader measures to cool the economy and restrain inflation pressure: the Central Bank raised interest rates last month, and so far in this month twice increased reserve requirements for lenders, draining of cash from the banking system.
-Zhoudong Shangguan and Liu Li
0 comments:
Post a Comment