Dec. 7 (Bloomberg) -- China’s inflation rate may drop to about 4 percent next year from an average 5.5 percent this year, Zheng Jingping, chief engineer at the National Bureau of Statistics wrote.
Controlling inflation will still be one of the major tasks next year as inflationary pressure will still be large due to loose monetary policies globally, rising costs and still elevated inflation expectations, Zheng wrote in an article published in the Chinese Academy of Social Sciences’ economic bluebook released today.
Zheng estimated economic growth this year will be slightly above 9 percent and said 9 percent expansion next year is still possible. To achieve that pace of growth and control inflation, the government should adopt a neutral monetary and fiscal policy next year, he wrote.
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