Xie Fuzhan, director of the National Bureau of Statistics, said
yesterday at Tsinghua University that the CPI for the whole year
was expected to rise by 4.5% to 4.6% and China's economy was
generally in a period of moderate inflation.
According to Xie, food prices are going up; rising oil prices
are influencing price hikes among many industrial products.
Moreover, the rising cost of nonferrous metals and iron ore, along
with rising wages, also has been an important factor affecting
prices. "Big hikes in housing prices and share prices are
accumulating a larger risk factor for the long term development of
the economy," Xie said.
He predicted that China's GDP will grow at around 11.5 percent
this year, and? continue at?7-8 percent?in the
coming decade.
For more details, please read the full story in Chinese (http://www.cs.com.cn/xwzx/02/200711/t20071123_1249367.htm).
(China.org.cn November 23, 2007)
