Vice Premier looks to rein in inflation
12 May 2008
China's Vice Premier said the country should continue to use macroeconomic measures to control inflation and ensure that the economy does not overheat, the Wall Street Journal reported, citing comments from Wang Qishan that were made at a financial forum in Shanghai on Friday. In his most comprehensive remarks on the economy since his promotion to the post in March, Wang said the government must "prevent fast money-supply growth from becoming excessive and structural price increases from escalating to a severe overall inflation." Wang, formerly mayor of Beijing and head of China International Capital Corp, is in charge of China's financial sector. The producer price index rose 8.1% year-on-year in April, according to the National Bureau of Statistics.
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