Well-timed Regulation
This term has been included in China’s Report on the Work of the Government, in the context of implementing directional adjustment and control and well-timed regulation on the basis of the government’s rangebased regulation to alleviate the mounting downward pressure on the economy. An adapted version of the “Discretionary Choice” policy in economics, the phrase refers to the ability to “make flexible decisions in accordance with different situations and occasions.”
“Well-timed regulation” requires the government to be able to flexibly decide and choose policies and measures based on market conditions and the possible results of those policies and measures. Focus is placed on flexible adapta- tion and timely and appropriate fine-tuning. The government should also formulate different policies for different regions and industries. For example, the government should promulgate different taxation and mortgage policies according to the different development levels of the real estate markets in first-, second-, third-, and fourth-tier cities.
The term was first mentioned on July 10, 2015 by Premier Li Keqiang, as he stressed adjustment and control as well as preset finetuning to maintain steady economic growth through promoting reforms and adjusting the economic structure at a conference on economic work. It first appeared in China’s government work report during the Two Sessions in 2016.