OREANDA-NEWS. March 05, 2011. China projects its GDP to advance by 8% this year and views it as necessary to have inflation, which may affect the country’s social stability, under control, the Chinese premier, Wen Jiabao said March 5 in a report on Cabinet operations. Inflation hit 4.9% in January and must be kept below 4% in the FY, Jiabao said at the opening of the 4th Plenary Session of the 11th National People’s Congress, opened March 5 in Beijing.

“Prices are rising quickly at the moment, inflationary expectations are getting stronger. This could affect people’s vital interests and the situation in the country in general, and undermines social stability”, Jiabao said in his speech. “This is why keeping inflation under control is the primary task of the macroeconomic regulation process”, he summarized.