International Comparison of China's Price Level: Gaps and Its Influence Factors
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摘要: 基于世界银行2011年国际比较项目(ICP)数据结果,分析中国价格水平的国际差距,研究其影响因素,剖析世界银行推算的中国购买力平价和价格水平指数的合理性和局限性。研究表明,中国价格总水平相对较低,但在多重因素作用下,呈大幅上升趋势,与国际的差距缩小,价格的国际竞争优势逐渐减弱。在现阶段,中国价格水平与经济发展水平大体相适应。从长期趋势看,中国价格水平继续上升的压力较大,须控制通胀预期,稳定人民币汇率,谨防价格水平上升超出经济发展水平的正常范围。Abstract: The World Bank recently published China's Purchasing Power Parities (PPPs) based on the survey data of China participating in 2011 round of the International Comparison Program (ICP). China's PPP is 3.506 RMB per USD and Price Level Index is 70% of the world average. This paper first analyzes the international gaps of the China's price level, studies on the influence factors, and finally discusses the limitations of the ICP data, method and results. Research shows that China's price level is low compared with main countries in the world but under the influence of multiple factors, the price level in China is on the rise and the international gap has narrowed. From a long-term point of view, the price level in China withstands the pressure rise. It is suggested that the inflation expectation be controlled and the exchange rate of RMB be stabilized to ensure that the rise in the price level does not go beyond the normal range of economic development level of China.
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