日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Companies grapple with rising costs

By SHI JING in Shanghai and ZHOU LANXU in Beijing | China Daily | Updated: 2022-04-11 07:20
Share
Share - WeChat
Trucks line up at a foreign trade container terminal of Qingdao Port in Shandong province on March 17. China will offer more financial help to traditional exporters. [Photo by Yu Fangping/For China Daily]

The good news is, the central government has taken remedial action immediately.

During an executive meeting of the State Council, China's Cabinet, chaired by Premier Li Keqiang on March 21, the central government announced it will refund around 1 trillion yuan worth of value-added tax credits, which is nearly two-thirds of total VAT credit refunds this year, to micro and small enterprises and self-employed households as general VAT payers across all sectors. The purpose is to help market entities weather the difficulties, stabilize market expectations and ensure employment.

Liu Kun, China's finance minister, said in late February that the government will carry out tax and fee cuts of a more sizable scale this year, hoping to generate a greater sense of gains for market players.

The National Development and Reform Commission and 11 other central government departments released a policy document on Feb 18 to promote steady growth in the industrial sector, reiterating the goal of stabilizing the overall economy. More financial help will be rendered to traditional export companies, cross-border e-commerce platforms and logistics service providers to set up overseas warehouses. Local governments as well as import and export chambers of commerce will help small and medium-sized enterprises to seek direct contacts with shipping companies, according to the document.

Amid all this, everyone concerned is keen to know: Will the People's Bank of China, the country's central bank, change its monetary policy to address mounting difficulties so that China can successfully attain the 5.5 percent GDP growth target this year?

Zhu Haibin, JP Morgan's chief China economist, said the rising global commodity prices will intensify the inflationary pressure facing China. But the pressure is unlikely to be massive enough to significantly restrict the country's macroeconomic policy space.

China's factory-gate inflation will abate by a slower slope because of the spike in commodity prices, said Zhu, who has raised the forecast for China's annual producer price index growth by 0.8 percentage point to 5.4 percent.

Consumer inflation will also be affected, but only in a moderate way. Zhu said he expects China's annual CPI growth to come in at 1.7 percent, higher than 0.9 percent last year and still well below the government's target of around 3 percent.

The overall stable consumer inflation will allow the PBOC to ramp up support for the Chinese economy, by way of cutting both the interest rate of its medium-term lending facility, a key policy rate known as MLF, by 10 basis points and the reserve requirement ratio by 50 basis points in the coming months.

Such measures will be necessary to achieve this year's GDP growth target of around 5.5 percent, given the multiple challenges posed by a real estate slowdown, higher import costs and downside risks of net exports, Zhu said.

Lu Ting, Nomura's chief China economist, said a spike in commodity prices amid geopolitical tensions may influence China's economy mainly through three channels-higher inflationary pressure, narrower trade surplus and marginal depreciation pressure on the Chinese yuan.

As a major importer of raw materials, China may have to pay more for imports due to soaring international energy and food prices, which could shrink the country's trade surplus and weaken the country's currency slightly, Lu said.

Also, rising global oil and gas prices could sustain industrial goods prices relatively high in China, dampening the willingness of companies to invest and eroding the effectiveness of macroeconomic policy in expanding domestic demand, he said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 国产在线精品一区二区三区 | 99精品久久 | 午夜电影通 | asian gaysex| 美剧三体 | 韩国久久久久无码国产精品 | 国产精品福利短视在线播放频 | 国产99久久精品 | 国产精品久久久久影视青草 | 成人久久精品一区二区三区 | 99久久99| 天天干天日 | 夜色亚洲 | 中文字幕在线一区二区三区 | 久久久国产视频 | 五月婷婷在线播放 | 久草在线免费新视频 | 亚洲国产欧洲综合997久久 | 国产精品小黄鸭一区二区三区 | 国产在线精品区 | 久久久一区二区三区不卡 | 成人免费在线视频 | 免费观看黄的小视频 | 不用播放器的av | 久久99精品久久久久久 | 日色网站 | 日韩欧美在线免费观看 | 好大好硬好长好爽a网站 | 久久蜜桃av一区二区天堂 | 中文字幕亚洲第一 | 亚洲人人精品 | 久久久久一区二区三区 | 搞黄网站免费观看 | 中文一区二区 | 奇米网狠狠 | 亚洲一区二区三区高清网 | 亚洲精品国产综合一线久久 | 自拍 第一页 | 欧美成年 | 精品久久久久久综合日本 | 免费一区二区三区 |