China News Service, Beijing, April 20th (Reporter Liu Yuying) How will the global commodity price increase since last year affect Chinese manufacturing?
Huang Libin, spokesperson of the Ministry of Industry and Information Technology and director of the Operation Monitoring and Coordination Bureau, said that the overall impact is controllable.
In the first two months of this year, the average prices of imported iron ore and copper concentrates increased significantly by 56.6% and 44% year-on-year.
Crude oil prices also hit the largest increase in the same period in history. Brent crude oil futures and New York light crude oil futures both rose by about 20%. The increase in raw material costs supported the price increase of downstream commodities.
At the press conference of the Information Office of the State Council held on the 20th, Huang Libin said that China’s industry is huge, and the overseas purchases of some commodities are very large. The rise in the price of related commodities has a very direct impact on the PPI (industrial producer price index). The ex-factory prices of products in upstream industries have shown a significant increase in the past month, and as the industry chain is transmitted to the middle and downstream, although the profitability of some upstream companies has been improved to a certain extent, it has also increased the cost pressure on downstream companies to a considerable extent. , Squeezing the profit margins of enterprises
Huang Libin believes that the relevant price increase factors are mostly short-term and sudden. At present, structural contradictions such as high global debt, disparity between the rich and the poor, and prominent aging problems have caused the global economic recovery to be difficult and tortuous, and commodity prices do not have the basis for long-term increases. .
"my country has sufficient macro-control policy space and strong domestic market potential. The manufacturing sector is complete, production capacity is abundant, supply is abundant, and the market is highly adaptable to self-adjustment. Relevant departments have also taken measures to strengthen the work of ensuring supply and price stabilization." Huang Libin said that overall, this round of commodity price increases has an impact on the manufacturing industry, but this impact is generally manageable.
The Ministry of Industry and Information Technology will actively take measures to promote the stabilization of raw material prices: strengthen operational monitoring and price supervision, stabilize market expectations, and prevent panic buying or hoarding in the market; and cooperate with relevant departments to resolutely crack down on monopolistic market, malicious speculation and other violations of laws and regulations.
(Finish)