Special report: Reconstruction After Earthquake

A flag flies above The People's Bank of China in Beijing.  (File Photo) Photo Gallery>>>

Quake inflation to be temporary

    BEIJING, June 4 -- The recent earthquake will add to China's inflationary pressure as the country is battling to contain rising prices, but the effect will be temporary, said a central bank research report released Tuesday.

    Meanwhile, the Chinese economy will not suffer a "hard landing" as feared by some economists, making it unnecessary to relax the current tight monetary policy, according to the report compiled by the research unit of the People's Bank of China.  Full story

China central bank dismisses fears over export collapse

    BEIJING, June 3 (Xinhua) -- China's central bank on Tuesday rejected as "exaggeration" warnings that the nation's exports are set to drop sharply, leading to an economic hard landing.

    "An analysis of the impacts of weaker export growth should be objective and allow no excessive exaggeration," the Institute of Finance Research under the People's Bank of China (PBOC) said in a report.

    Some analysts are calling for easing controls to reduce the risk of hard landing, as weaker export growth drove the nation's trade surplus to shrink 8.4 percent to 58 billion U.S. dollars in the first four months of the year.  Full story

China's economy to grow moderately slower in 2008

    BEIJING, May 31 (Xinhua) -- China's economic growth is likely to stay high but "may moderately slow down" this year, according to the country's central bank.

    The economy would be affected by a decelerated world economy, weakened by outside demand and domestic disasters such as the snowstorm in January and February and the 8.0-magnitude earthquake in southwestern China, said the People's Bank of China (PBC) in a report on its website.  Full story