From Xinhua (link):
The Chinese government on Friday moved to avert a possible overheating economy by tightening controls on fixed asset investments and money supply.
The State Council made the decision at an executive meeting chaired by Premier Wen Jiabao, where it pledged to tackle other problems giving priority to grain production and raising farmers’ incomes.
The government made the decision after concluding that fixed asset investments and money supply grew excessively in the first quarter, while its foreign trade sector is still troubled by structural problems.
