SHANGHAI, March. 22 (SMM)- During his government work report on March 5, 2013, Premier Wen warned of growing inflationary pressure in 2013 and emphasized that stabilizing prices has always been an important target of the central government’s macro control.
Rising prices of land, labor, agricultural products and services are the major contributors to China’s growing inflationary pressure this year. Major developed countries are introducing looser monetary policies, which may also cause inflationary pressure to grow in China. In this context, the Chinese government has set the CPI target for this year at around 3.5%. Efforts must be made to ensure ample supplies of important commodities, facilitate circulation, reduce logistics costs and enhance market supervision and regulation so as to stabilize prices.