31 Aug '11, 3pm

[TODAY] China's Wen says controlling inflation still goal

BEIJING - The Chinese government remains focused on reining in surging prices despite global instability and has no plans to change controls that have caused its economy to slow, Premier Wen Jiabao said Wednesday. The global slowdown has prompted suggestions Beijing might ease its controls, but Mr Wen said in comments on the Cabinet website that the cooling in China's rapid economic growth is in line with government plans. "Stabilising general price levels still is the most important mission of macro-controls and the orientation of macro-controls cannot change," Mr Wen said in an essay to be published Thursday in a party magazine, according to the website. Beijing has hiked interest rates repeatedly and tightened investment curbs to steer rapid growth to a more sustainable level just as the United States and other major economies are trying to shore up their weak economies...

Full article: http://www.todayonline.com/Business/EDC110831-0001045/Chi...

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