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China Central Bank: Price Increases Cannot be Ignored

 China’s central bank, The People’s Bank, issued its third quarter economic analysis on October 27, 2010. The analysis states that, compared to the second quarter, the market fears of an excessive downturn in the economy have receded; China’s economy is showing clear signs of stabilization, but pressure on prices cannot be ignored. The pressure comes from price hikes in food, the reform of income distribution and resource prices, as well as uncertainty about bulk commodity prices in the international market.

Source: Xinhua, October 27, 2010