Peng Sen, vice minister of China’s National Development and Reform Commission, said at a recent meeting the country is actively working to reform its resources pricing system. This move is part of a government push to achieve “more efficiency in industry,” says Rosealea Yao, research manager for Dragonomics Research & Advisory, Beijing. “It will help bring in excess capacity.”

Yao points to a report released last month by the European Chamber of Commerce in China that attributes much of the problem to the Chinese government’s overly large stimulus package. It claims the government “has poured credit into increasingly questionable projects and will almost certainly increase direct and indirect subsidies to investment and manufacturing.” Yao notes, “It is not that we have excess capacity; it is that we have an extremely loose monetary policy.” She contends that it will change as the Chinese government begins considering how to deal with inflation.

Michael Komesaroff, an Australia-based analyst of Asian commodity markets, notes in a recent trade-journal article that China’s steel mills, aluminium smelters and other manufacturing plants “still produce far more than the country can absorb. Excess production at home is exported, depressing international prices.”

国际建筑成本顾问Gardiner＆Theobald的国内经理内维尔·史密斯（Neville Smith）表示，建筑成本指数在2008年达到顶峰，但由于商品短缺而稳定。他说，中国要在国外获取原始物品“很少没有新闻，但中国政府已经解决了供应不足的问题。”史密斯补充说，随着经济衰退的减少，短缺似乎已经成为过去。

According to Smith, clients of his firm experienced cost problems only with steel. However, since most contracts are set for periods of 18 months or longer, steel’s nine-month price peak in 2008 was not an issue. In response, China’s Tender Management Office, which approves large projects in Beijing, has asked for contract clauses to permit price fluctuations in the future, a sign that the “government is taking away protections for foreign clients in these areas,” he says.

In addition to China’s CPI nudging into the positive column this year, its property price index grew 5.7% in November on top of a 3.5% hike in October. Monetary policy remains unchanged, but Yao says many households and businesses are making banking and investment decisions with expectations of rising inflation.

2009年1月至2009年8月之间建设项目的总投资同比增长36.218luck官网％，而同期对新项目的总计划投资增长了81.7％，同比增长。

With increased construction activity countrywide, tender prices are expected to increase mildly in the next few months. China’s year-on-year GDP growth was 7.7% in the third quarter of 2009, compared to 7.1% in the second quarter—the fastest growth since the financial crisis hit the market last year, reports Kong Yu, director in Hong Kong for global construction-cost consulting firm Rider Levett Bucknall. Construction activity in most major cities has continued to be strong, resulting in some mild upward cost movement. Tender prices are expected to continue a mild upward trend.

据Rider Levett报道，在香港，自2008年第三季度以来连续三个季度下降后，出价稳定。自年中以来，竞标水平有所提高，市场前景得到改善，尤其是随着大型基础设施项目即将到来，并谈论邻近澳门岛即将恢复建筑。18luck官网根据Yu的说法，香港的招标价格正在逆转下降趋势，并将在未来几个月内温和上升，到2010年中期，随着招标趋势的上涨。

在大陆上，通货膨胀压力可能会促使中国政府重新估算其货币，即人民币。由于“中国的经济增长速度比其他任何人的货币都要快得多……应该上升，而不是下降。”一些观察家预测，到2010年中，政府将需要限制刺激支出或增加货币价值以抵消通货膨胀。

至于未来的成本预测，有些人希望副部长彭（Peng）承诺为水，电和天然气等资源提供市场定义的价格。一项倡议包括计划开放电力市场20％的计划，并允许与中国的两个国家权力垄断进行直接价格谈判。