Growth is good but it must be green

With the onslaught of the financial crisis last October, politicians and economists immediately began to blame Americans for consuming too much and Chinese for saving too much. Whoever is at fault, China has quickly learned that it can no longer depend on growing exports to drive its economy.

The phrase "boost domestic consumption" is now on the lips of almost every government official, as it is deemed one of the keys to stimulating the nation's economic development. Various policies have been proposed to drive up consumption in China; some of these are now starting to bear fruit.

For example, the Yayuncun auto sales center, the largest of its kind in Beijing, has seen its sales of small sedans rise dramatically, following a reduction in the sales tax on small-engine passenger cars.