This makes perfect sense to me and I encourage those who do business in China to prepare accordingly.
I especially believe the line "The Ministry of Finance may have dipped into various stabilization funds to avoid the appearance of running a large deficit." I have often thought that the budget figures released by China did not add up given the corruption and lack of local enforcement of the tax regime. It would be perfectly in character for MOF officials to shuffle the books around to "avoid the appearance" of deficit spending. As we know, in China, appearance is not only everything; it is the only thing.