China＇s Current Macroeconomic Trend and Its Macro-control PolicyZhang
This paper analyzes China＇ s current macroeconomic situation and macro-control policy, focusing mainly on four aspects. Firstly, the government work report of 2012 has put forward two important goals of GDP growth of 7.5% and CPI rate within 4%, which indicates the government＇ s determination and policy direction to slow down economic growth and to increase economic structural adjustment and to transform development mode. Secondly, as the existing financial system is basically dominated by large state-owned financial banks and the legitimacy of private finance unacknowledged, which leads to the financial needs of many SMEs being unable to be met, the current monetary policy and financial system needs further deregulation. Thirdly, the government＇ s income growth now contradicts with the decline of residents＇ disposable income, thus it is imperative to achieve the goals of more policy adjustment and reform. China＇ s current institutional status quo features strong government, weak society and market distortion. Therefore, the future directions of reform can be emphasized as follows： to constrain the governmental function, to strengthen societal apparatus and to regulate market mechanism.
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