PBOC says looser macro controls risk overheating

China's central bank governor, Zhou Xiaochuan, warned on Thursday 2 September in a statement on the People's Bank of China website that Beijing risks another round of economic overheating if it relaxes its macro administrative controls too early.

"The macro controls are still at a crucial stage and the macro controls have achieved initial effect but any relaxation could cause a rebound," Zhou said in the statement on the PBOC's website.

Enthusiasm for investment at the local government level wa