中国经济在过去一年间同时经历着中长期的转型压力与短期内的增速下行,在改革与增长之间进行艰难平衡。随着房地产和基础设施再度膨胀,原有增长模式进一步固化。仅靠宽松货币政策推动的基础设施、房地产扩张只能带来短期的经济反弹,而要引领经济进入一轮全新的可持续上升周期,需要从根本上实现经济转型和结构调整。 Over the past year, the Chinese economy has experienced both mid- and long-term transformation pressure and a downturn in the short term growth rate, making it difficult to strike a balance between reform and growth. As real estate and infrastructure expand again, the original growth model is further solidified. Rely on loose monetary policy-driven infrastructure, real estate expansion can only bring about a short-term economic rally, but to lead the economy into a new round of sustainable rising cycle, the need to fundamentally achieve economic restructuring and structural adjustment.