Premier: China to keep year´s CPI rise around 4.8%

Source: Xinhua | 03-05-2008 10:25

BEIJING, March 5 (Xinhua) -- China sets the target of keeping this year's CPI at around 4.8 percent, given the inflationary pressure and strong influence from last year, Premier Wen Jiabao said at the annual parliamentary session on Wednesday.

The primary task for macroeconomic regulation this year is to prevent fast economic growth from becoming overheated growth and keep structural price increases from turning into significant inflation, Wen said in his report to the First Session of the 11th National People's Congress opening on Wednesday.

"At the same time, we have to take into consideration the ability of individuals, enterprises and all sectors of society to tolerate price increases and try our best to avoid sharp price increases," he said.

Wen admitted the country is facing "increasing inflationary pressures" and its task of holding down inflation is "difficult."

"The current price hikes and increasing inflationary pressures are the biggest concern of the people," he said.

Editor:Zhang Pengfei