Premier Wen Jiabao says stabilizing prices remains the priority

Chinese Premier Wen Jiabao says stabilizing prices remains the priority for the Chinese government, highlighting concerns that inflation has not yet been sufficiently contained.

Premier Wen Jiabao says stabilizing prices remains the priority

During a weekend visit to China’s northeastern Province of Liaoning, the Premier noted that “pork prices have been expensive recently, but will fall in a few months after the current cycle is over.” He reassured the public that with the implementation of government measures, price rises will be curbed effectively.

Wen also says China’s economy has so far this year seen decent growth, and the government must observe new developments calmly and be prepared for challenges.

Annual inflation in China is widely expected to hit 6 percent in June from May’s 34-month-high of 5.5 percent, prompting anticipating of another interest rate rise as early as this weekend.

Cntv.cn

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