China's energy supply security capacity is relatively strong, and it has a solid foundation and favorable conditions to cope with fluctuations in the external market, a National Bureau of Statistics (NBS) official said on Monday, adding that policy measures will be introduced to help guide industrial product prices back to a reasonable range.
Fu Linghui, spokesperson of National Bureau of Statistics (NBS) and director general of the Department of Comprehensive Statistics of the NBS, speaks at a press conference on March 16, 2026. (Photo: Screenshot from the official website of China's State Council Information Office)
NBS spokesperson Fu Linghui made the remarks when asked how authorities assess the potential impact of imported inflationary pressures on China's producer price index (PPI) and broader industrial price trends, given that the decline in the PPI narrowed in February while international oil prices remain highly volatile, pushing up shipping and insurance costs.
Recent escalation of tensions in the Middle East has sharply increased shipping risks in the Strait of Hormuz and sent international oil prices surging, raising concerns in global markets. As of the morning of Monday, Beijing time, Brent crude futures had climbed above $106 per barrel, up 3.3 percent on the day.
Fu, also director general of the Department of Comprehensive Statistics of the NBS, said that uncertainties surrounding international energy prices remain considerable at present, and the extent of their spillover impact on domestic prices still requires further observation.
Going forward, China will continue to expand domestic demand and optimize supply, develop new quality productive forces in line with local conditions, and further advance the building of a unified national market, Fu said. These efforts are intended to help bring industrial product prices back to a reasonable range, improve the circulation of the economy, and support the sustained and healthy development of the industrial sector, he added.