The price increase is about 3%, and the precise regulation keeps the price stable.

　　This year’s government work report will set the increase in consumer prices at around 3% in 2024. "This expected goal is consistent with the previous two years, and it is at a moderate level, which is conducive to guiding market expectations and leaving enough room for macroeconomic policy regulation and control to effectively support economic operation in a reasonable range." Lan Fenghui, member of Chinese People’s Political Consultative Conference and president of Unitech Tax Agency Co., Ltd. said.

　　The price level is the thermometer of macro-economy, and it also affects people’s life, so it should be kept at a moderate level. In 2023, China’s CPI maintained a moderate upward trend, in sharp contrast to the major developed economies suffering from high inflation. Commissioner Lan Fenghui said that in recent years, China’s fiscal policy and monetary policy have maintained a steady and moderate tone, while the industrial chain and supply capacity are sound and the economic cycle is basically smooth, laying a solid foundation for maintaining overall price stability.

　　In recent months, the CPI has declined year-on-year. Commissioner Lan Fenghui said that China’s commodity supply is sufficient, which fully meets the needs of the broad masses of people and shows a downward trend in prices, which has depressed the CPI level to some extent; In addition, the global prices of food and energy, which were caused by unconventional factors, rose sharply before, and turned down in 2023, which also had a great impact on China’s overall CPI.

　　Commissioner Lan Fenghui suggested that the next step should be to give full play to the advantages of China’s ample monetary policy space, accurately and forcefully implement macro-control, strengthen cross-cyclical and counter-cyclical adjustment, create a good policy environment for economic growth and price stability, further boost market confidence and development expectations, and consolidate and enhance the economic recovery. I believe that with a series of steady growth measures, consumer prices are expected to stabilize and rebound. (Economic Daily reporter Yang Xiaolin)