Experts discuss price stability at symposium

China has the conditions and capability to keep prices stable this year, experts said during a symposium held by the country's top economic regulator.

The National Development and Reform Commission recently held the symposium to discuss meeting the preset consumer inflation target of around 3 percent in 2022.

Experts present cited the strong resilience of China's economy, China's large market space, its sufficient policy tools as well as abundant supply of industrial and agricultural products and services.

Data from the National Bureau of Statistics showed China's consumer price index, a main gauge of inflation, rose 1.5 percent year-on-year in March, up from 0.9 percent a month ago.

Meanwhile China's producer price index, which gauges factory-gate prices, rose 8.3 percent year-on-year in March, easing from 8.8 percent in the previous month.

Experts noted China's economy has been deeply integrated into the world economic system after 40 years of reform and opening-up, and the soaring prices of international commodities also impacted prices at home.

For instance, rising domestic oil and diesel prices contributed 0.76 percentage points to CPI growth in March.

Experts noted China's overall price level is within a controllable range with the help of the government's effective measures to ensure stable supplies and prices, and the country also provides a large number of products at reasonable prices for the whole world. China is the 'stabilizer' of global price levels, experts said.

Looking ahead, experts warned the COVID-19 pandemic could allow elevated inflation to linger in Western countries if it further disrupts supply chains, and other factors including rising commodity prices may also worsen the situation.