China sets lower inflation target of around 3.5pc for 2013: paper

China has set a target for inflation of around 3.5 per cent in 2013, down slightly from 4 per cent in 2012, the official China Securities Journal reported, quoting anonymous sources. Analysts said the target rate of inflation showed Beijing was optimistic enough about consumer price levels to tolerate moderate inflation next year. China’s annual consumer inflation rebounded from 33-month lows to 2 per cent in November, dimming the chance for more monetary policy easing in the future.

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