Adjusting for the Future

By staff reporters Huo Kan and Zhang Huanyu and intern reporter Wang Xu

( Magazine) In 2009, there is little doubt that China will "protect eight," official shorthand for ensuring gross domestic product (GDP) growth of 8 percent or greater. The contribution of investment growth supported by credit expansion is especially significant.

Central parity rates for one-year treasury bills resumed on July 8 rose for four consecutive weeks. The China Banking Regulatory Commission reiterated that it would strictly enforce a 40 percent down payment rule on purchases of second homes. After a year in waiting, the "Provisional Law for Fixed Asset Loan Management," meant to ensure that credit flows into the real economy, was finally released on July 27.