January trade numbers appeared stronger than expected, in line with global growth momentum.

This is much stronger growth than the market expected.

The acceleration of loan growth will add further fuel to the current growth momentum and we see upside risks to our growth and inflation forecasts this year. The economy is accelerating on all three cylinders.

We believe domestic demand will increasingly become a much more important driver for growth...in the coming years.

We expect financial conditions to tighten in the second quarter.

I think we've passed an inflection point. We're seeing an end to the golden period of extremely low-cost labor in China. There are plenty of workers, but the supply of uneducated workers is shrinking.