To regain control over its monetary policy China needs to let the yuan rise.

为了恢复对金融政策的控制，中国需要让人民币升值。

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Through strict control of ordinary expenses and comprehensive use of surplus funds, the central government will spend 101.386 billion yuan on this item, a decrease of 4.629 billion yuan or 4.4%.

严格控制一般性支出，统筹使用结余资金，中央本级支出1013.86亿元，减少46.29亿元，下降4.4%。

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Currency supply incereased by 17.3%. A total of 137.6 billion yuan, us$16.58 billion was issued throughout the year, exceeding the control plan by 17.6 billion yuan, us$ 2.12 billion.

中央财政债务收入2447亿元，298.4亿美元，完成预算的99.6%，货币供应量增长17.3%，全年现金投放1376亿元，165.8亿美元，超过计划控制目标176亿元，21.2亿美元，全部金融机构存款增加12940亿元，1559亿美元，增长18.6%。

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So China may eventually have to revalue the yuan to regain control of its monetary growth.

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State control is thus put at risk--not least in regards to the exchange value of the yuan, which is currently tracking a weakening U.S. dollar and getting further out of kilter with where standard analysis would have it float.

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