Misjudgments must be avoided

China should improve the quality of growth by cultivating new forces, not by adopting short-term stimulus measures

Some foreign media have predicted that the downward economic momentum will prompt the government to loosen its macroeconomic policies, work out stimulus measures and follow on the heels of other countries by cutting interest rates.

Such a prediction is based on misjudgments about China's ongoing economic conditions and thus is unlikely to come true.