It was made very clear that the macro-control would be beefed up rather than moderated, though adjustments would be made on the focus, tools and intensity. The macro-control efforts have made achievements. However, some basic issues still need to be addressed.

This was declared by Qiu Xiaohua, Vice Director of State Statistics Bureau in Beijing on November 23 at a forum for the honesty construction.

Top on his list of the bases which need to be consolidated is the agriculture. The growth of grain production and farmers' income needs to be further secured. There is still risk of rebound of investment which is contained now. On one hand, the investment on projects under construction keeps rising at a speed of above 30 percent. On the other, the enthusiasm for spending, though reined in now, is lurking for a vent if land and credit control is unleashed. The situation of investment really does not encourage optimism.

In addition, the tight supply of coal, oil and power has not completely eased off. Things are turning better for power, but have not improved for oil and coal. Consumption of energy and power experienced a two-digital jump for the first 10 months, which has imposed high pressure of cost on some enterprises and called for attention.

All of this has proved that much more has to be done. It is necessary to continue to improve and reinforce the efforts on leveraging the economy.

"What distinguishes the macro-control this year from that of the previous years is that it is initiated by the government as a structural adjustments. The control of the aggregates is not what it is all about. It is not an abrupt brake. It is proceeded in a progressive way so that enterprises have enough time to be adapted and avoid losses. " Qiu said.

"Various tools have been employed this time. Legal and economic levers have been in place to make the adjustment more market-oriented. This is good in the current stage, " he added.

He stressed that macro-control is an integral part of the socialist market economy and as important as the market mechanism. Meanwhile, tightening is not all the story of the macro-control. The pursuit of a trade-off between tension and relaxation is the set tone throughout the scheme.

The social investment has kept spiraling up since the later half of last year. So the government changed its focus on boosting the economic growth to a reasonable economic growth. Proper adjustments have been made on the fiscal and monetary policies. It is too early to claim a victory for the macro-control.

In Qiu' vision, the macro-control for the next stage will be more scientific and market-oriented. He concluded that this round of macro-control has told us how important it was to take the real situation of China into consideration and adopt different measure under different scenarios. This is the way to achieve the sustainable fast development of the economy, he insisted.

By People's Daily Online