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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (14845)11/4/2004 1:54:31 PM
From: RealMuLan  Read Replies (1) of 116555
 
Administrative controls in China
Alexandra Harney and Richard McGregor
11/5/2004

ALEXANDRA Harney in Beijing and Richard McGregor in Shanghai China will continue to limit lending to fast-growing sectors of the economy through administrative directives, despite the decision to introduce more conventional monetary tools to rein in bank lending with the first interest rate rise in nine years.
Government officials and analysts said the latest announcement about the interest rate increase indicated that Beijing had decided to widen its arsenal of defences against inflation and overinvestment, rather than exchange one weapon for another.
"In China, administrative measures are always useful," said Cheng Manjiang, an economist at Bank of China International. "They can loosen such controls, but the administrative measures will always be there as long as the overheating exists."


financialexpress-bd.com
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