Monetary and fiscal tightening as well as exchange rate interventions were initiated to cool demand, curb inflation and prevent the build-up of asset price bubbles, but the success of these measures has been only limited.   In such an environment, adverse economic data and uncertainty about policy decisions can have severe effects on financial markets.
I would like to thanks Deutsche Bank for the invitation to join at this important event where, various investors, business leaders and senior government officers gather to have a constructive dialogue. It is increasingly recognized that intensive communication, such as what we have today, becomes more important both from the authorities’ perspective as well as from investors’ point of view.