Recently, Guan Tao, Global Chief Economist of Bank of China Securities, was a guest in the "New" Observation of China's Economy, and said that the inflation measured by China's CPI in the first quarter was about 1%, so the price stability is relatively bright in the global perspective. eye.
Guan Tao analyzed that, first, China mainly protects the market players, and the recovery of supply is faster than demand, while the West mainly directly sends money to families to help them, so their demand recovery is faster than supply; second, China's epidemic prevention and control The control is basically effective, and it is the first to resume work and production. The fiscal and monetary policies are relatively restrained, and there is no "flooding". In the West, fiscal and monetary stimulus is "full fire", so short-term demand is overheated; third, in the face of rising commodity prices This has caused imported inflationary pressures on China, and China has adopted measures of "guaranteeing supply and stabilizing prices" against rising raw material prices, which has played a certain role in prices.
At the same time, China has the advantages of a relatively large domestic market, a relatively complete industrial system of the whole industry chain, relatively abundant supply, and relatively smooth logistics in general. Under such circumstances, China's prices are relatively stable.
Guan Tao said that for China, the main contradiction at present is how to stabilize growth.
Even if the CPI may rebound in the future, it is still possible to achieve the expected target of about 3%.
(Reporter Wu Tao, Shi Rui and Shan Lu)
Responsible editor: [Ji Xiang]