Decades after the so-called "expectation management" was born in the West, China is now adopting the concept in economic policies in a flexible way that shows its own characteristics.
In mid-September, Chinese Premier Li Keqiang convened the State Council, or China's cabinet, stressing the importance of enhancing government information transparency so as to stabilize market expectations.
In the first half of this year, the Chinese government carried out a series of new policies to upgrade various industries and made explanations to the public in time through different channels.
As for hot social topics such as money shortage, cutting tax of small-sized and micro businesses, relevant government agencies have also made timely statements to ease market concerns.
In response to the outside worries about China's slowing growth, Premier Li said in July that macro adjustment will keep the economy running within a rational range, that is, economic growth and employment level will not slip below a minimum limit, while price hiking will exceed the upper limit.
Economists believe that China's commitment is a very effective forward guidance and a robust signal which need to be repeated again and again.
To give the public an in-depth understanding of the macro-economic situation, China's National Development and Reform Commission, the National Bureau of Statistics of China, together with other government agencies, opened online chats with netizens.
Premier Li demanded that government agencies increase interaction with the public, not only explaining new policies but also responding to people's attention and concerns
Source: Xinhua
