China´s top industrial official sees "positive signs" but cautious about recovery

The February figure did not represent a deflation problem in China, since the money supply was ample because of the proactive fiscal policy and the relatively easy monetary policy, the NBS said.

China's industrial output growth slowed to 5.7 percent year on year in December last year, compared with 16 percent last June, as the financial crisis took a toll, said Li.

The government has announced 20 billion yuan (2.9 billion U.S. dollars) of interest subsidies for loans to fund technological upgrading in enterprises to help them better cope with the crisis.

The input can spur bank lending and enterprises' spending and eventually leading to a total investment of more than 400 billion yuan for technological upgrading, said Li.

Editor:Liu Anqi