Chinese Premier Says Govt Will Control Inflation, House Prices

China’s Wen Jiabao pledged Sunday to take action to control inflation in the domestic economy, including rising house prices, and again resisted calls for a quick and sharp appreciation of the yuan. In an online chat hosted by the official Xinhua News Agency, Wen said that yuan reform will continue, but only at a gradual pace to avoid bankruptcies and job losses. The premier’s latest semi-regular online appearance comes amid rising public anger about inflation and widespread discontent about the affordability of housing. – iMarketNews

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