In addition, I would also say something on co-operation and joint development between the financial sectors of China and Hong Kong. I. Mainland China’s economy is experiencing a stable development First of all, I would like to talk about the financial and economic conditions of China which is a hot topic for discussion among professionals from the Hong Kong financial sector.
If inflation had no effect on economic growth, we would be much less concerned about inflationary pressures. BIS Review 50/1997  -2-  But the evidence is compelling that low inflation is necessary to the most favorable performance of the economy. Inflation, as is generally recognized throughout the world, destroys jobs and undermines productivity gains, the foundation for increases in real wages.