Consumer prices in China fell for the fourth consecutive month in January. At 0.8 percent, the decline was the strongest since September 2009.
China must quickly take aggressive measures to prevent deflationary expectations from taking root among consumers, says one expert. The official 2024 economic growth target is expected at the opening of the National People's Congress. The central bank had recently reduced the reserve ratio for commercial banks (RRR) by half a percentage point. The reduction will release around one trillion yuan (the equivalent of around 128 billion euros) in liquidity for the financial system.