12月10日，我院副院长朱宁教授做客CCTV NEWS《China 24》栏目，对于11月CPI数据的微幅下降，朱宁教授认为从中可以得出两点，其一通货膨胀仍在继续，其二中国亟需改变经济增长模式。

Host: So, what do you think is behind since September and October CPI has been above three percents and now it is down a little bit. So what do you think is the major factors behind this easing on inflation and what is going to be changed looking like?

Zhu Ning: I think this probably carries two different messages. One is, I think the inflation is still in the zone. So there are still some pressure for the PBOC or the central bank to very measure their ways how much rules can go with the monetary policy; on the other hand, I think it is also emphasizing it is imperative for China to switch its economic growth model. I mean now that it is in a very dedicated situation whenever what you are trying to search profound economic growth, inflation is picking up. So, we have to find another way apart from invest innovative infrastructure construction from to further stimulate or further boost the economic growth.

Host: Let’s also put this into context, because China’s leadership has expressed the wish to reform the country’s economic structure and by saying that, it means given the market more sake in deciding the prices of those factors and the impact on the inflation picture.

Zhu Ning: Absolutely, I think there would be probably leaving mixed impacts, depending on which aspects we are looking at. I think there will be some relaxation of globalization in energy, in electricity which would potentially boost the consumer prices, because those areas used to be subsidizes. However, if you look at the other side, I mean, because we are going to have the market to play a great role in setting the pricings which means the market operation would become more efficient and that could potentially make things a little cheaper in some other areas. So I think, all and all, the net impact would be mixed depending on which of the two forces will be stronger.

Host: But the central governments still have monetary policies to adjust the inflation rate.

Zhu Ning: Exactly, I think, there are two separated forces. The monetary policy is in general trying to set the entire monetary supply whereas I think the reform in the effective prices would be specific to certain areas of the price setting. I think depending on the pace of the reform, we could see, I mean, a sort of spike in the short term but then gradually over time or gradually slow down in the longer term.

Host: Alright, thank you very much, Professor Zhu, for that.

China 24 12/10/2013 02：20