``... policy makers appear to have set themselves three main policy objectives: maintaining reasonably high rates of GDP growth, reforming and rebalancing the economy, and ensuring financial and economic -- and thereby social -- stability. The Government Work Report delivered to the National People's Congress on 5 March made explicit reference to each of these policy objectives. "However, against the backdrop of China's slower economic growth, capital outflows and rising corporate stress, it will be increasingly difficult for these policy objectives to be achieved in unison," says Michael Taylor, a Moody's Managing Director and Chief Credit Officer for Asia Pacific.''

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