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Senior official Warns Overheating Economy and Comprehensive Inflation

In the most recent issue of Qiushi journal, the core publication of Central Committee of Chinese Communist Party, a senior official authored an article on the risk of an “overheating economy” and “comprehensive inflation.” Xie Fuzhan, the chief of State Statistics Bureau, pointed out that China need to focus on quality and curb the “impulse of expanding investment projects.” The article suggested strengthened macroeconomic control, strict housing regulation, and tight monetary policy. To ease the expectation of price rises, Xie proposed to increase the supply for basic necessities.

Source: Xinhua, April 2, 2008
http://news.xinhuanet.com/fortune/2008-04/02/content_7906294.htm