China has no long-term deflation or inflation basis: central bank

2023-04-21 08:15:35Xinhua Editor : Li Yan ECNS App Download

China's central bank said Thursday there is no long-term deflation or inflation basis in the country as the aggregate supply and demand is generally balanced, the monetary conditions are reasonable and moderate, and residents' expectations are stable.

The rapid growth of money supply and credit coexists with falling prices, which is essentially influenced by time lag, said Zou Lan, an official with the People's Bank of China, at a press conference.

With the strong support of a package of policies to stabilize the economy, domestic production has continued to recover at a faster pace, but demand recovery is relatively slow as it takes time to lift people's consumption willingness, especially bulk consumption, said Zou.

The consumer demand is expected to pick up further as financial supports continue to take effects, Zou said.

China's consumer price index, a main gauge of inflation, rose 1.3 percent year on year in the first quarter of the year, and the growth rate was moderating, official data showed. 


Most popular in 24h

MoreTop news


Back to top About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2023 All rights reserved.
Reproduction in whole or in part without permission is prohibited.
[网上传播视听节目许可证(0106168)] [京ICP证040655号]
[京公网安备 11010202009201号] [京ICP备05004340号-1]