China to adopt tight monetary policy: Ma Kai

时间：2007-12-04 07:42:11

（单词翻译:单击）

Dec.4 - China Development and Reform Commission Minister Ma Kai said over the weekend that the country will adopt a tight monetary1 policy while continuing a prudent2 fiscal3 policy.

 

Ma made the remarks at the first high-profile economic dialog between China and Japan held Saturday in Beijing.

 

Observers said over the past few years, China had adhered to a moderately tight monetary policy. This time, Ma, head of the the country's top economic planning agency, took off the word "moderately".

 

Also at the Sino-Japanese economic dialog, Finance Minister Xie Xuren said China would make use of various monetary instruments to intensify4 credit control.

 

China's central bank has this year raised the reserve-requirement ratio for commercial banks nine times and interest rates five times.

 

Observers reckoned a sixth rate hike for the year was around the corner.

 

China has paid growing attention to the mounting inflationary pressure after the country's consumer price index (CPI) recorded a 10-year-high rise of 6.5 percent in October.

 

In addition, the Political Bureau of the Central Committee of the Communist Party of China convened5 a meeting last week and said next year's top macroeconomic priorities would be in preventing the economy from overheating and the current price increases from evolving into "evident inflation".

 

The observers believed China would continue to face high inflationary pressure next year. In international markets, oil prices would continue their exposure to high volatility6 and grain prices would keep rising.

 

In the domestic market, high food prices would likely give rise to the price of labor7 and then the production cost in different sectors8.

 

Yu Yongding at the research institute of world economy and politics under the Chinese Academy of Social Sciences said that four percent was the CPI ceiling that China could tolerate. If the inflation indicator9 increased higher it would send a signal to the central bank that a tight monetary policy was necessary.

 

Zhuang Jian, chief economist10 of the Asian Development Bank in China, said the monetary policy had played an important role in China's macroeconomic control and it would be indispensable for the country's future economic regulation.

 
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1 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。
2 prudent M0Yzg     
adj.谨慎的，有远见的，精打细算的
参考例句：
  • A prudent traveller never disparages his own country.聪明的旅行者从不贬低自己的国家。
  • You must school yourself to be modest and prudent.你要学会谦虚谨慎。
3 fiscal agbzf     
adj.财政的，会计的，国库的，国库岁入的
参考例句：
  • The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
  • The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。
4 intensify S5Pxe     
vt.加强；变强；加剧
参考例句：
  • We must intensify our educational work among our own troops.我们必须加强自己部队的教育工作。
  • They were ordered to intensify their patrols to protect our air space.他们奉命加强巡逻，保卫我国的领空。
5 convened fbc66e55ebdef2d409f2794046df6cf1     
召开( convene的过去式 )； 召集； （为正式会议而）聚集； 集合
参考例句：
  • The chairman convened the committee to put the issue to a vote. 主席召集委员们开会对这个问题进行表决。
  • The governor convened his troops to put down the revolt. 总督召集他的部队去镇压叛乱。
6 volatility UhSwC     
n.挥发性，挥发度，轻快，（性格）反复无常
参考例句：
  • That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
  • Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。
7 labor P9Tzs     
n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦
参考例句：
  • We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
  • He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。
8 sectors 218ffb34fa5fb6bc1691e90cd45ad627     
n.部门( sector的名词复数 )；领域；防御地区；扇形
参考例句：
  • Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
  • Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》
9 indicator i8NxM     
n.指标；指示物，指示者；指示器
参考例句：
  • Gold prices are often seen as an indicator of inflation.黃金价格常常被看作是通货膨胀的指标。
  • His left-hand indicator is flashing.他左手边的转向灯正在闪亮。
10 economist AuhzVs     
n.经济学家，经济专家，节俭的人
参考例句：
  • He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
  • He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

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