China vows to treat market entities equally, build open market system

11/10/21 • 13 min

China will treat all types of market entities equally and build a "unified and open market system with orderly competition," said Chinese President Xi Jinping in his address at the Asia-Pacific Economic Cooperation (APEC) CEO Summit via video link on Thursday.

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China's PPI surges to record high at 13.5%, CPI up 1.5% in October

China's factory-gate inflation hit a 26-year high in October, while consumer prices rose slightly amid public concerns over food shortages. Data from the National Bureau of Statistics shows that CPI rose by 1.5% year on year in October. While the country's PPI rose by 13.5% in the same month, hitting the highest level since July 1995. So what does this mean for the economy?