久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  Home>News Center>China
       
 

Zhou: Interest rates to stay 'relatively low'
(Bloomberg.com)
Updated: 2005-06-26 20:18

People's Bank of China Governor Zhou Xiaochuan said the country will keep interest rates "relatively low" to help boost consumer spending and eliminate a trade surplus that has led to tensions with Europe and the U.S.


China's central bank chief Zhou Xiaochuan revealed the country will keep interest rates "relatively low." [newsphoto/file]
"For the time being, we probably won't increase interest rates", Zhou, 57, said in an interview in Basel, Switzerland, where he's attending a meeting of central bankers at the Bank for International Settlements.

Consumer prices "are stabilizing," easing pressure to raise rates, he said.

China is trying to boost consumption and imports to reduce its $30 billion trade surplus so far this year, which the US and Europe say has been boosted by China's decade-old peg for its currency, the yuan.

Chinese Premier Wen Jiabao said June 26 more time is needed before any changes can be made to the peg, which fixes the yuan at about 8.28 to the dollar.

The People's Bank of China lifted its one-year lending rate by 27 basis points to 5.58 percent on Oct. 29, 2004, to curb pressure on prices.

The Institute of International Finance in May forecast China's economic growth this year may match 2004's 9.5 percent. China's official target is a growth of 8 percent.

"Raising interest rates isn't an effective tool to address overheating," said Qu Hongbin, a senior economist at HSBC Plc in Hong Kong.

"The central bank has done a good job curbing lending and loan growth. As long as that continues, there's a good chance investment will slow. That's why Zhou's cautious about talking about raising interest rates."

Retail Sales Rise

China's retail sales rose 12.8 percent in May from a year earlier, accelerating from growth of 12.2 percent in the previous month, as higher incomes spurred spending on products from televisions to beer.

Rising consumer spending is helping sustain growth in the world's seventh-largest economy, which expanded 9.4 percent in the first quarter, as the government restricts investment in manufacturing and real estate.

"The clear sign of an overheating economy is higher prices," Zhou said. "China's prices are partly driven by international factors. Generally speaking, China's prices are stabilizing."

China's inflation rate held at a 19-month low of 1.8 percent in May.

The average inflation rate this year is likely to fall to between 3.0 percent and 3.5 percent this year, from 3.9 percent in 2004, the People's Bank of China forecasts.

China's fixed-asset investment gathered pace for a third month in May as more power plants and railways were built to reduce blackouts and ease transport bottlenecks in the world's seventh-largest economy.

Investment in urban areas rose 26.4 percent from a year earlier to 1.97 trillion yuan ($238 billion) in the first five months.

"It's hard to say whether China's economy is overheating," Zhou said. "The higher investment in May still needs to be monitored."



Special police detachment established in Xi'an
Panda cubs doing well in Wolong
Suspect arrested in Taiwan
  Today's Top News     Top China News
 

Taiwan's KMT Party to elect new leader Saturday

 

   
 

'No trouble brewing,' beer industry insists

 

   
 

Critics see security threat in Unocal bid

 

   
 

DPRK: Nuke-free peninsula our goal

 

   
 

Workplace death toll set to soar in China

 

   
 

No foreign controlling stakes in steel firms

 

   
  No foreign controlling stakes in steel firms
   
  China-made telescopes race to space
   
  'No trouble brewing,' beer industry insists
   
  HK investors cautious on mainland homes
   
  Law in pipeline to ban money laundering
   
  Overseas students test their Chinese abilities
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
China firm as US steps up yuan pressure
   
Chinese economy facing challenges
   
Regulators promise healthier banking system
   
NPL ratio of Chinese banks down to 17.8 percent
   
China's top bank official vows to keep RMB stable
   
HK major banks raise interest rates
   
Europe bank to leave rates unchanged
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 欧美日韩精品一区二区三区不卡 | 久久国产免费观看精品3 | 在线免费视频 | 亚洲国产一区二区a毛片 | 亚洲天堂美女视频 | 欧美一级鲁丝片 | 亚洲成av人片在线观看无码 | 久久视频在线播放视频99re6 | 国产性色 | 国产日韩三级 | 欧美在线亚洲国产免m观看 欧美在线一级精品 | 寂寞午夜影院 | 欧美一及 | 久久影院一区二区三区 | www夜色| 色噜噜亚洲男人的天堂 | 国产一区二区三区欧美精品 | 日韩欧美在线播放视频 | 欧美69精品国产成人 | 国产精品正在播放 | hd欧美xxx欧美极品hd | 亚洲国产高清视频在线观看 | 久久中出 | 欧美一级片免费看 | 粉嫩高中生的第一次在线观看 | 亚洲免费视频一区二区三区 | 亚洲成年网站在线观看 | 国产三级日本三级日产三级66 | 天天躁天天碰天天看 | 国产成人综合久久亚洲精品 | 国产原创一区二区 | 一级片www | 久久久久久全国免费观看 | 亚洲三级精品 | 亚洲成人在线免费观看 | 成人久久久 | 成人18免费软件 | 免费a级黄毛片 | 亚洲美女黄视频 | 欧美国产日韩在线 | 国产精品久久久久久久久久久威 |