But analysts said prices would accelerate strongly in the first quarter ofthis year, complicating efforts to cool the economy without triggering a sharpslowdown. For the whole year, consumer prices rose 3.3 per cent, above Beijing’starget of 3 per cent. Food prices were the main culprit, increasing 7.2 percent.
“The growth figures will encourage Beijing to act more decisively on taminginflation, which means more interest rate hikes are just around the corner,”said Qu Hongbin, an economist at HSBC. The Shanghai Composite, China’s benchmarkstock market index, dropped 2.9 per cent on Thursday amid fears of monetarytightening.
Inflation, labour shortages and a series of strikes in major industrial areaslast year have led to minimum wage increases across China. This month theBeijing municipal government increased minimum wages by 21 per cent. Officialshope higher wages will increase domestic consumption and help China become lessreliant on low-cost manufacturing, exports and investment for growth.
Geoffrey Crothall of the China Labour Bulletin, a Hong Kong-based advocacygroup, said the wage hike might not be enough to ease the labour shortages inGuangdong province, which accounts for much of the global production ofeverything from mobile phones to sports shoes.
Faced with rising inflation, Beijing has raised the amount banks must hold onreserve seven times over the past year, and increased interest rates twice inthe fourth quarter. These attempts to rein-in loose monetary conditions haveonly been partially successful.
To get around tighter lending quotas, Chinese banks moved trillions ofrenminbi in loans off their balance sheets last year, repackaging them as wealthmanagement products.
On Thursday, the Chinese banking regulator ordered banks to bring anestimated Rmb1,660bn ($252bn) of off- balance sheet lending back on to theirbooks this year. Government attempts to manage liquidity have been furthercomplicated by non-bank lending, which authorities have great difficultyquantifying.
According to a central bank survey, total non-bank lending amounted to aboutRmb240bn last year, equivalent to 5.6 per cent of total lending. But centralbank officials told the Financial Times that the true scale of informal andunderground lending was likely much larger.
Learning to learn:
第一段开篇点题 ， 只用了一句话 ， 就说明了下文要涉及的话题 。见到这样的长句我们要学来为我所用哦 ， 分析一下这句话的主干 ， 请用Fearsthat…开头早一句话 。
Language Points:
1. inflation 通货膨胀 2. culprit 主要原因 ， 罪魁祸首
Oral Topic:
What are the advantages and disadvantages of raising wages for youremployees?
此题为BEC考试口试task2部分模拟
译文参考：
各方对于中国经济正出现过热现象的担忧有所加剧 。此前官方数据显示 ， 中国经济去年末的增速快于预期 ， 而通胀仍高于目标水平 。
中国最大的经济省份——广东省宣布将其最低工资标准提高26% ， 更是加剧了人们的忧虑 。
中国经济2010年第四季度同比增长9.8% ， 全年增长10.3% 。
12月消费者价格指数(CPI)为4.6% ， 较11月5.1%的逾两年高位有所回落 。
但分析师们表示 ， 中国消费价格将在今年首季强劲加速上涨 ， 使政府给经济降温而又不至引发急剧减速的努力变得更加棘手 。全年而言 ， 消费价格上涨3.3% ， 高于北京方面制定的3%的目标水平 。食品价格上涨7.2% ， 是推动通胀上扬的主要因素 。
“这些增长数据将鼓励北京方面采取更果断行动制伏通胀 ， 这意味着更多加息即将出台 ， ”汇丰(HSBC)经济学家屈宏斌表示 。中国基准股指——上证综指周四下滑2.9% ， 市场担心中国将收紧货币政策 。
通胀、劳动力短缺和去年在几个工业重镇发生的一系列罢工 ， 已导致中国各地纷纷提高最低工资标准 。本月 ， 北京市政府将最低工资提高21% 。官员们希望 ， 较高的工资将增加国内消费 ， 有助于中国在增长方面减轻对低成本制造、出口和投资的依赖 。
位于中国香港的维权集团中国劳工通讯(China Labour Bulletin)的杰弗里?克罗塞尔(GeoffreyCrothall)表示 ， 加薪也许不足以缓解广东省的劳动力短缺 。从手机到运动鞋 ， 广东省在许多产品的全球生产中占据了相当大的比重 。
面对不断上升的通胀 ， 北京方面过去一年已7次上调银行存款准备金率 ， 并在第四季度两次加息 。这些措施旨在收敛宽松的货币政策条件 ， 但仅在一定程度上取得了成功 。
为了避开收紧后的放贷指标 ， 中国各银行去年将上万亿元人民币的贷款转出自己的资产负债表 ， 将其重新打包成理财产品 。

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标题：BEC阅读|BEC阅读汇集( 三 )