The Unirule Institute of Economics held a conference to announce the release of the Macroeconomic Analysis Report for the 3rd Quarter of  year on October 26th, 2010. Prof. Zhuang Shuguang, introduced the report.  

China's GDP in the first three quarters of this year was RMB 26,866.0 billion, a year-on-year increase of 10.6 percent. In terms of growth by quarters, it was up 11.9 percent for the first quarter, 10.3 percent for the second and 9.6 percent for the third quarter, showing a declining trend. Faced with the acceleration of inflation, the central bank raised interest rates for the first time in nearly three years.

The report pointed out that this move is actually a positive sign of returning back to normal, and we can not make an easy prediction of a new round of rate hike cycle. In fact, negative interest rate is great chance for China's interest rate marketability. Proposal for the 12th Five-Year Plan was adopted on the Fifth Plenum of the 17th Central Committee of the Communist Party of China. The 12th Five-Year Plan shows excellent way of thinking. However, the key lies in effective implementation. If our GDP growth is not to slow down and if we make no breakthrough in reform, implementation of the 12th Five-Year Plan will encounter much trouble.