We must also talk about price reform as this is also extremely important. It's true the the Chinese have proceeded with a lot of caution in this area however some see their decision making and being one sided and not really fair to the wider industry especially within different sectors of agriculture.
Inflation is a huge issue with China and must be treated with great caution, respect and planning. China has had several bouts of inflation over the last 2 decades and this had indeed resulted in altering and affecting the political will of the government in terms of the risks it was prepared or not prepared to take on.
The problem is that such high rates of growth also bring with it high rates of danger for the health of the economy. Much care must be takent to ensure that growth is rapid but not allowed to get out out of controll.
It's no overstatement to say that inflation is problem the No.1 concern to the Chinese economy. It's a huge beast which must be kept firmly under control whatever the cost may be.