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    博中国际娱乐登陆网站:Seniorofficialshaverecentlystressedtheneedto"avoidpropertymarketfluctuations",thatis,toavoidtoomuchstrengthaswellastoomuchweakness.Thecentralgovernmenthasaskedlocalgovernmentsto"containexcessivehomepricerisesinhotcities",throughmeasuressuchasincreasinglandsupplyandtighteninghousingpurchaserestrictions,whileinstructinglocalgovernmentsinsmallercitiestostimulatehousingsales.However,propertytaxlegislationisstillnotonthelegislativeagenda.Thecentralgovernmentaimstoremoveanother50milliontonsofexcesscapacityinsteeland150milliontonsincoalminingthisyear,followingagoodstartlastyear,whilecontinuingtosupporttheresettlementofaffectedemployees,usingspecial"adjustmentfunds"andfiscaltransfers.Asexperimentswith"mixedownership"reformsofState-ownedenterprisescontinue,thegovernmentisalsoallowingprivatecapitaltotakeaminorityshareinSOEsinsectorsdominatedbythem,inpartinordertomeettheneedforfinancing.Ithaspromisedtoopenthecompetitiveareasofthepower,oilandgassectorstoprivateenterprises.Butgiventhelackofprogressinthisareaoverthelast10years,itremainstobeseenhowmuchprogresswillbemadethistimearound.Indeed,inourview,theprogressonlevellingtheplayingfieldbetweenSOEsandothercompaniesremainsunconvincing.Chinaisamajorbeneficiaryofglobalization,andthegovernmentwantsthisphenomenontocontinuedespitetheincreasinginternationalheadwinds.FollowingtheUS'withdrawalfromtheTrans-PacificPartnershipagreement,theChinesegovernmenthaspromotedfreetradeandinvestment,includingestablishingafreetradeareaoftheAsiaPacificregion.AndamidcomplaintsbyWesterncompaniesandgovernmentsaboutthelackofaccesstomarketsinChina,thegovernmenthaspromisedtofurtheropenuptoforeigncompaniesandfinancialinstitutions,followingmovesearlierthisyeartogivethemeasieraccess.Ithasalsovowedtofurtherrelaxinvestmentrestrictionsonforeigninvestorsandencourageoverseas-investedcompaniestolistandissuebondsinChina.Inconclusion,thegovernment'seconomicplansforthisyearshowthat,despitemoreemphasisoncontainingfinancialrisks,solideconomicgrowthisstillakeyobjective.Inall,theplannedmacrostanceissomewhatlessgenerousthanlastyear.TheauthorisheadofAsiaeconomicsatOxfordEconomics.

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