(Beijing Comprehensive News) An indicator of China's overall price change has occurred the longest quarterly decline since the Asian financial crisis in 1999, highlighting that China is facing serious tightening pressure.

Bloomberg calculated based on data released by the National Bureau of Statistics of China on Wednesday (January 17) that in the fourth quarter of 2023, China's GDP Display Index (GDP Deflator) fell by 1.5%.The decline in quarterly, the decline was further expanded from 1.4%in the third quarter.

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GDP flat reduction index is an indicator that measures economic stability and sustainability. According to the ratio of GDP that has not excluded price changes to the GDP that eliminates price changes, that is, Nonic GDP and actual GDP growth.China has not announced the official GDP flat reduction index data.

In addition, China Last December National Resident Consumption Price Index (CPI)The decline of 0.3%, which has increased negatively in March.

Chinese officials have always denied the risk of economy tightening.Kang Yi, director of the National Bureau of Statistics, said at the press conference on Wednesday that the CPI decline in the past few months is mainly structural and staged. As the Spring Festival approaches, it will help promote the seasonal recovery of CPI.

Introduction is that with the introduction and implementation of a series of policies of the Central Economic Work Conference, the problems of insufficient effective demand will gradually be relieved, and the consumer prices of residents are expected to stabilize and recover.Essence