We need to read this with caution, this is largely a reflection of the Chinese New Year distortion, therefore we should not see it as a pick up in inflation.
More Quotes from Qu Hongbin:
How Chinese exports perform is largely driven by external demand rather than the exchange rate,Qu Hongbin
It's a challenging task but that shouldn't be an excuse for China not starting on it right now.
Qu Hongbin
Given the evidence of deteriorating investment efficiency, China needs to rebalance its growth by shifting away from investment toward consumption.
Qu Hongbin
We expect growth in fixed investment to slow from 27 percent last year to 15 percent in 2004 and around 10 percent in 2005,
Qu Hongbin
China has emphasized that they do not want to make the currency issue into a political issue, which means that China will continue to hold dialogue with trading partners to search for proper solutions, and the exchange rate is not necessarily the only means to do that,
Qu Hongbin
There's only one conclusion Continuing to bolster labor-intensive production and exports is the only viable means for China to absorb its surplus labor and improve rural living standards.
Qu Hongbin
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