Wu Xiaoling: Expanding financing channels of the real estate industry and developing a win-win situation for the real estate and financial industries in China Speech by Ms Wu Xiaoling, Deputy Governor of the People’s Bank of China, delivered at the Annual Conference of Real Estate Finance in China, Beijing, 5 November 2005. *  *  *  Ladies and Gentlemen: Good morning.
It would be too much to ask a model to be able to account for these regular irregularities and, further, to be able to extract sound policy advice from it. Another relevant issue on fiscal policy relates to the appropriate moment for implementation, especially with regard to its implications for stability.