China Premier Wen reiterates fight against inflation


Chinese Premier Wen Jiabao vowed again to step up efforts to keep consumer inflation in check in 2011, state media reported on Sunday.

“The central government has taken a slew of steps to stabilize prices. We will put it higher up on our agenda,” state television quoted Wen as saying, repeating the top leadership’s line since inflation hit a 28-month high in November.

Wen made the remarks in a New Year trip to supermarkets and herdsmen’s homes in the northern Inner Mongolia Autonomous Region.

China raised interest rates twice and increased bank reserve requirement ratios six times in 2010 as it moved to normalize monetary policy to absorb excess liquidity.