Ye Xiang: Structural problems trigger inflation

On the afternoon of November 5, Ye Xiang, managing director of the company, said at the new Finance summit today that the structural problems that existed in China were an important cause of inflation. Ye Xiang said inflation had arrived because the CPI had risen to 3%, and inflation was caused by conflicting food supply and demand, the main problem being natural disasters. But China has a natural disaster every year, and the previous natural disasters have not caused such a large inflation phenomenon or expectations, the reason is worth examining.　　Ye Xiang that there is a deeper reason behind the rise in prices than natural disasters. Ye Xiang that America's new quantitative easing led to a weaker dollar, leading to a rapid rise in commodity prices and energy prices, exacerbating domestic inflation. But there was a structural inflation in China, although today we see a lot of industries in general, such as the steel industry, but Baosteel still wants to raise prices, because the price of mines has gone up. In addition, the rise in labour costs and the large amount of labour is a structural problem. (Snow ting from Beijing)