Chinese threat

According to the latest economic data for China, it's just flourishing there!!!
GDP grew by 11.9%, industrial production at 18%, retail of 18%, car sale on 76%. True, and CPI grew by almost 3%.
Therefore, China can either strengthen the yuan significantly., or increase the amount of reserves, or raise the discount rate. How would it be, it can dampen the demand for comoditis and curb risk appetite, what may affect other markets.
It seems to me. that with such a growth in GDP, they should go to raise the discount rate , everything else will not be able to cope with the gluttonous Chinese.