China's Excessive Investment

中国的经济在过去的 5 年见证严肃的过多的投资，主要在基础结构和房地产。过多的投资在经济生长和宏观经济的稳定性上有不利影响。这项过多的投资的主要原因是政府投资开销上的不恰当的生长策略，低利率和弱限制。有效地控制过多的投资，中国需要调整它的生长策略，加快利率 marketization 的进程，并且改革存在公共开销系统。

China＇ s economy has witnessed serious excessive investment over the past 5 years, mainly in the infrastructure and real estate. Excessive investment has adverse impacts on both economic growth and macroeconomic stability. The main causes of this excessive investment are inappropriate growth strategies, low interest rates and weak constraints on government investment expenditure. To effectively control excessive investment, China needs to adjust its growth strategy, to speed up the process of interest rate marketization, and reform the existing public expenditure system.