China sees low inflation as stocks fall
Inflation in China remained low in May, according to official data published on Friday.
The consumer price index (CPI) was up 0.2% on the year, the National Bureau of Statistics (NBS). This was slightly above the April figure, 0.1%.
Chinese stocks were also flat on Friday amid concerns over the health of the world’s second-largest economy, despite rising stocks in Hong Kong and elsewhere in Asia.
Low Chinese interest rates
China has kept interest rates low compared to other major economies.
On Thursday, top economist and government adviser Liu Yuanchun urged regulators to lower borrowing costs to make it easier for small and medium-sized private businesses to get finance.
He said that many large state-owned companies had borrowing rates of less than 1.8%, while many private companies had to pay almost 9%.
“It will be better if the rate cut comes as part of a supportive policy package,” Liu said on the sidelines of the Lujiazui Forum in Shanghai.
Source: DW
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.