Rein in inflation and bubbles

China has to tread carefully with its policies, for its economic development faces internal as well as external challenges

At a recent meeting to discuss this year's Government Work Report and the draft outlines of the 12th Five-Year Plan (2011-2015), the Political Bureau of the Communist Party of China Central Committee once again stressed the need to prevent big fluctuations in the national economy.

A variety of macro-control measures adopted at the beginning of this year reflect the central government's efforts in this direction and its intensified determination to curb inflation and dry out the excess liquidity from China's capital and property markets.