Macroeconomic regulation and control (simplified Chinese:宏观调控; traditional Chinese:宏觀調控; pinyin:Hóngguān tiáokòng) often abbreviated Macro-control (simplified Chinese:宏调; traditional Chinese:宏調; pinyin:Hóngtiáo) refers to the use of direct government intervention by the central government of the People's Republic of China to cool down the overheated economy. The policy was first introduced in 1993 by Zhu Rongji, Premier of the People's Republic of China and Governor of the People's Bank of China at the time. His policies included collective measures to constrain monetary policy, suppress real estate and stock markets, control inflation, lower supplies of raw materials and reduce domestic consumption. The purpose was to achieve a so-called soft landing of an economy that was growing too fast.