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The U.S. grain price jump may also result in rising prices for stock feed, but it is unlikely to drive up the domestic price of pork immediately.
"The government should take inflationary risks into consideration," said Lian Ping, chief economist with the Bank of Communications, adding that the country's inflation might pick up at the end of the year.
At 8 p.m., the National Commission for Disaster Reduction and the Ministry of Civil Affairs initiated a level-four emergency response plan for the affected areas and sent teams to assist with relief work.
Based on calculations from the State Administration of Tax (SAT), the replacement of the turnover tax could lift China's gross domestic product growth by 0.5 percentage point, Xiao Jie, director of the SAT, said in March.
The latest move came as China's GDP growth slowed to a nearly three-year low of 8.1 percent in the first quarter and key economic indicators for April continued to suggest downward risks, prompting the government to shift focus from inflation control to securing growth.
来源：资阳报