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: 午夜在线观看视频免费 成人 | 男人操美女 | 久久semm亚洲国产 | 国产亚洲精品一品区99热 | 欧美三级一级 | 国产亚洲精品高清在线 | 免费观看性欧美大片无片 | 国产深夜福利 | 国产精自产拍久久久久久蜜 | 在线免费视频 | 久久午夜影视 | 男子操女子| a毛片免费播放全部完整 | 久久精品免费视频观看 | 国产精品成人自拍 | 久久久久久久久久久久久久久久久 | 国内自拍第一页 | 欧美一级毛片日韩一级 | 国产一级一片免费播放视频 | 2018久久久国产精品 | 另类一区二区三区 | 男女男精品视频 | 欧美a在线视频 | 久久精品www | 成人精品视频在线 | 三级网站在线免费观看 | 成年人在线视频免费观看 | 日韩中文字幕精品一区在线 | 97在线观看免费视频 | 国产专区中文字幕 | 国产女人自拍 | 日本一线一区二区三区免费视频 | 波多野结衣视频免费在线观看 | 欧美一级在线播放 | 欧美另类69xxxxx 视频 | 久久国产经典视频 | 欧美 亚洲 另类 自拍 在线 | 国产成人精品午夜在线播放 | 成人欧美在线 | 日韩精品另类天天更新影院 | 手机在线精品视频每日更新 |