Corn Products China News 1002
China’s overall economy witnessed continuous increase this January, with CPI growth rate by 1.5% year on year, according to statistics released by National Bureau of Statistics of China. The small-scale increase of CPI growth rate demonstrates that Chinese inflation pressure have been relieved to some extent this January, mainly thanks to the two deposit reserve ratio increase of 5% by People’s Bank of China in January and February. Government’s these two actions are aiming to avoid continually excessive credit expansion after Chinese New Year.
However, both these two deposit reserve ratio increase are not applicable for the credit from agriculture, and credit for agriculture still enjoys the previous low rate, indicating that Chinese government continues to give priority to agricultural production.
On Jan. 2010, China issued the No. 1 document of central government, which shows that China will keep focusing its concern on Chinese Agriculture-Countryside-Peasant problem, suggesting increasing investment will be injected to agriculture industry in China.
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