Investors breathe easier, but pain awaits

Economy | Ed Zhang

The Chinese market is more optimistic these days than in the past few months. The capital market can now heave a sigh of relief as government policies and monetary weapons are apparently working toward achieving the annual targets, such as a 7.5 percent GDP growth.

Therefore, there is less doubt and unease among investors compared with earlier months. The possibility of a general local debt crisis breaking out, which investors feared, looks distant.