Soft Landing in Sight

• 来源期刊: 中国外经贸（英文版）
• 年，卷（期）: 2006,（11）
• 页码范围: 31
• 页数: 1页
• 语种: 英文

摘要

Beijing has illustrated strong poise throughout this round of tightening, reducing the risk of policy overdose. This confidence was not seen in the past two rounds of austerity programs, those initiated by Zhu Rongji in 1995 and Wen Jiabao in 2004. In reality, China's CPI inflation is very benign and PPI has softened. Infrastructure bottlenecks, such as power shortages and railway jams that prompted a tightening in 2004, have eased significantly.Industrial over-investment is much less of an issue this time around compared to three years ago. In our view, Beijing has a lot of maneuver room to tighten or to reverse the gear at this time.