PBOC's Zhou doesn't see deflation threat

China's economy is not in a deflationary stage because the consumer price index continues to rise on a monthly basis, the Securities Times reported, citing Zhou Xiaochuan, governor of the People's Bank of China.

"It is true that the 1.9 pct year-on-year CPI rise in January showed an ebbing trend, but it was still a rise of 0.6 pct on a month-on-month basis," the central bank governor said.

It is too early to conclude that China's economy might be slipping into deflation, Zhou added.

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