Chinese NDRC Vice Head: Commodity price stability is critical to the economy

Dhwani Mehta FXStreet

“Commodity price stability is critical to the economy, many measures previously used to stabilize prices in 2021,” Ning Jizhe, Deputy Head of the National Development and Reform Commission (NDRC) said on Monday.

Additional takeaways

Able to achieve consumer price inflation target in 2022.

Will step up efforts to stabilize domestic grain prices.

Will widen market access for foreign investors.

Will speed up launch of key foreign investment projects.

Oil, coal, LNG and grain prices are very high at the moment, creating a challenge to stabilize prices, but we are confident that we can.

China will not resort to flood-like stimulus.

China will be able to avoid side-effects of economic policies to support growth.

Will enhance policy coordination, speed up policies favourable for growth, avoid policies with contractionary effects.

China's economy resilient despite rising uncertainties caused by the Ukraine crisis.

Faces arduous task in promoting recovery in consumption.

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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