Austerity Policies Called for in Preventing Economic Overheating
发布: 2008-3-15 09:40 | 作者: CE | 来源: China Economist
LU Zheng ( 吕政)
Director, Institute of Industrial Economics, Chinese Academy of Social Sciences
With the implementation of the “National Economy and Social Development project” during the 10th Five-Year Plan since 2001, China’s economic development has entered a new stage of development characterized by expanding fixed asset investment,growing industrial import / export trade , and maintaining relative price stability. With rapid industrial growth, however, came excess fixed asset investment expansion, excess demand for energy and raw materials, excessive arable land occupancy,and a worsening of environmental pollution. To prevent any potential economic overheating and structural dislocation, the CPC Central Committee and the State Council decided in 2003 to strengthen macro-economic control, transforming economic growth in accordance with the “scientific outlook on development”. This new macro-tightening policy not only helped in sustaining rapid industrial development and strong economic growth, but also created a better macro-economic environment.
