China faces inflationary pressures and controlling them is the government's top policy priority, Vice Premier Li Keqiang said Saturday. Li's comments come just a day after Premier Wen Jiabao said he expects price pressures to decline steadily even as the country keeps up its brisk economic growth.
Speaking at conference, Li said while the world's second biggest economy was maintaining a rapid expansion rate, it was also facing inflationary pressures. "China has to maintain stabilising prices as a top priority," he said, adding that controlling "unreasonable demand" for natural resources is another priority.
Separately, Fan Jianping, a senior government researcher, said inflation is expected to slow in the second half of the year, after peaking in June, the official Xinhua news agency reported. Rise in food prices, a key driver of inflation, is likely to slow from October after increasing output stabilises pork prices, Fan, chief economist at the State Information Centre, was quoted as saying.
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