June 24, 2011 / 12:39 AM / 8 years ago

UPDATE 1-China's Wen says prices firmly under control-FT

(Adds details, background)

LONDON, June 23 (Reuters) - The Chinese government is confident price rises will be kept firmly under control this year, premier Wen Jiabao was quoted as saying on Thursday.

“There is concern as to whether China can rein in inflation and sustain its rapid development. My answer is an emphatic yes,” Wen wrote in Friday’s edition of the Financial Times.

Wen, who starts a visit to Europe this week amid concerns over the region’s debt-crisis, said rapid price rises posed a challenge to many countries and to emerging economies in particular. [ID:nL3E7HN20Q]

“China has made capping price rises the priority of macroeconomic regulation and introduced a host of targeted policies. These have worked,” Wen wrote.

“The overall price level is within a controllable range and is expected to drop steadily ... We are confident price rises will be firmly under control this year.”

China had “maintained sound growth” this year, Wen said, adding that the country was fully capable of sustaining steady and fast economic growth.

He noted that the global economy was recovering from the eruptions of the financial crisis but said many uncertainties remained and that the recovery was fragile, pointing to uneven global growth, stubbornly high unemployment in developed economies, mounting debt risks and inflationary pressures.

“While the shock of the crisis has yet to end, new risks have emerged,” Wen wrote. “The world must co-operate closely to meet the challenges.” (Reporting by Paul Hoskins; editing by Carol Bishopric)

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