Ma noted the upward data also reminded that close attention should be paid to price changes.

"We should stick to the economic policy and better coordinate relationship between maintaining economic growth, adjusting economic structure and handling inflation expectations to prevent fast price rises," he said.

The government should take preemptive measures to tackle the rising inflation concerns as the easy monetary policy adopted around the world was going to impact the real economy, he said.

To check the breakneck bank credit growth and looming inflation , China's central bank raised the one-year bill yields and asked commercial lenders to keep more money in reserves. That fueled more expectations for interest rise.

Xiong predicted the interest rise would not realize until the second quarter. But the central bank would adjust the reserve requirement ratio more frequently in the first quarter to keep balanced monetary expansion.

He expected the full year inflation would climb three to four percent in 2010, from a decrease of 0.7 percent in 2009.