Price hike to spread to commodities other than food, report

时间：2007-11-22 06:47:27

（单词翻译:单击）

Chinanews, Beijing, Nov. 21 – As China further implements1 price reform on resources, the prices of many resources products are climbing in China, just like the food price. As a result, the PPI (producer price index) is now on the rise, same as the CPI. In order to counter the problem, China might limit the export of agricultural goods, energy products and some raw materials. However, it might not be wise for China to let Renminbi appreciate by a large margin2 in a short time. Raising the interest rate step by step on a small scale each time and reducing excessive liquidity3 are still considered as the most ideal option for China to take in its monetary4 policy at present, said a report issued by the Bank of China's Global Financing Market Department on Monday, the Shanghai Securities Journal reported.

 

At present, there is a large difference between the price of goods at domestic market and those at international market. China might lower the price of domestic goods by dragging down the price of imported goods. However, to do so, China should let Renminbi appreciate largely within a short time, which will actually be impractical5. On the other hand, it might be more realistic for China to limit the export of agricultural goods, energy products and raw materials so as to lower their prices at domestic market, the report says.

 

In October, the volume of money supply continued to grow fast, indicating that it is hard to reduce the overall demand rapidly. Right now, the measure of raising the interest rate on a small scale at each time has not exerted any obvious influence on the money supply control. However, its accumulative effects will become more obvious on next year's housing price and companies' financial reports. On the whole, Chinese companies' profit ratio still remains6 at a high level, which will drive investors7 to increase their investment in fixed8 assets, says the report.

 

At present, raising the interest rate step by step and reducing excessive liquidity are still the most appropriate measure for China to take. Letting Renminbi appreciate on a large scale should be considered only as the last resort for China to solve financial problems. At present, however, it might be more appropriate for China to gradually raise Renminbi value and, at the same time, largely raise the income level of its labour force so as to boost domestic consumption demand. This will be in line with the current macro economic situation in China, says the report.

 
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1 implements 37371cb8af481bf82a7ea3324d81affc     
n.工具( implement的名词复数 )；家具；手段；[法律]履行（契约等）v.实现( implement的第三人称单数 )；执行；贯彻；使生效
参考例句：
  • Primitive man hunted wild animals with crude stone implements. 原始社会的人用粗糙的石器猎取野兽。 来自《现代汉英综合大词典》
  • They ordered quantities of farm implements. 他们订购了大量农具。 来自《现代汉英综合大词典》
2 margin 67Mzp     
n.页边空白；差额；余地，余裕；边，边缘
参考例句：
  • We allowed a margin of 20 minutes in catching the train.我们有20分钟的余地赶火车。
  • The village is situated at the margin of a forest.村子位于森林的边缘。
3 liquidity VRXzb     
n.流动性，偿债能力，流动资产
参考例句：
  • The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
4 monetary pEkxb     
adj.货币的，钱的；通货的；金融的；财政的
参考例句：
  • The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
  • Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。
5 impractical 49Ixs     
adj.不现实的，不实用的，不切实际的
参考例句：
  • He was hopelessly impractical when it came to planning new projects.一到规划新项目，他就完全没有了实际操作的能力。
  • An entirely rigid system is impractical.一套完全死板的体制是不实际的。
6 remains 1kMzTy     
n.剩余物，残留物；遗体，遗迹
参考例句：
  • He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
  • The remains of the meal were fed to the dog.残羹剩饭喂狗了。
7 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
8 fixed JsKzzj     
adj.固定的，不变的，准备好的；(计算机)固定的
参考例句：
  • Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
  • Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

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