From a macroeconomic perspective, to prevent the economy from experiencing stop-and-go cycles, in addition to deploying the appropriate monetary policy tools at appropriate time, we should especially stress the importance of avoiding asset bubbles. Once bubbles have formed, it is difficult to make adjustments. This is exemplified by what has happened in Japan.
That is why we are going to do our best to prevent asset bubbles from occurring. For China as well as for the rest of the world, the greatest concerns lie in the asset bubbles in the equity and real estate markets.