BEIJING, Mar 12 (CEIS): "The rise in consumer prices should be kept under 3 per cent", said Premier Wen Jiabao in his government work report on major tasks for this year. As compared with last year's consumer price index growth of 1.8 per cent, the new price control target seems to have left some leeway. What is behind China's new consumer price control target? According to Premier Wen's government work report to the fourth session of the Tenth National People's Congress (NPC), the focus of China's price reform will be put on "gradually streamlining and improving the pricing mechanism for resource products and related factors", while the central government will "taken into account the interests of all parties and pay particular attention to the needs of low-income people" in the reform.
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