China blames loose global monetary policies for inflationary pressures

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The People's Bank of China said on Tuesday that it would give more prominence to stabilising overall price levels to keep the financial system secure and stable.

In the annual China Financial Stability Report 2011 posted on its website, the central bank said China's monetary policy should meet the principle of being "generally prudent".

China's National Bureau of Statistics announced on Tuesday that according to monthly statistics, China's consumer price index in May was up 5.5% year-on-year, up

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