<P><FONT size=6>CS 瑞信：China Economics 03.08</FONT></P>
<P><FONT size=6>8 March 2007 4页英文</FONT></P>

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<P>● National Development and Reform Commission Chairman Ma Kai<BR>met with reporters today to discuss plans regarding various<BR>developmental and macroeconomic issues.<BR>● Fixed asset investments: (1) investment growth is coming under<BR>control; (2) prudent land and credit management and stringent<BR>investment quality requirements are the three key policy tools for<BR>managing the rapid growth rate.<BR>● Real estate market: (1) the market remains generally healthy;<BR>(2) the government will focus on solving the persistent problems in<BR>the housing market, which include high housing prices in major<BR>cities and the lack of sufficient lower-income housing.<BR>● Energy: (1) the government is strongly committed to meeting the<BR>5-year energy saving targets set in the 11th Five Year Plan.<BR>(2) China is a “positive” factor for global energy security as it<BR>strives to be self-sufficient in energy; (3) the government will<BR>pursue a gradual approach in formulating the price regimes for oil,<BR>natural gas, water and other key resource products.</P>