It is also key to enhancing the international competitiveness of China’s financial market as well as its capabilities to serve the real economy. We will better coordinate development and security, make coordinated planning for capital account liberalization, two-way opening-up of financial markets and RMB internationalization, improve the liberalization and facilitation of cross-border trade and investment, and effectively guard against shocks from cross-border capital flows.
There is not yet sufficient evidence that the observed strengthening of producer price inflation at the earlier stages of the pricing chain will be durably transmitted to later stages which matter for HICP inflation. Annual global producer price inflation excluding oil remained elevated at 3.1% in February, standing above its long-term average.