Big govt projects will not fuel reforms

Investors have been looking for changes since the beginning of the year, when the government shifted its priority to reform and transitioning from just maintaining growth.

Now, as half a year has already passed, how has reform and transitioning come along - not in government papers and official speeches, but on the enterprise level? One gets little information from the national business press, whose headlines are usually occupied by old policy-level debates with few, if any, implications in daily business.

Nor can one learn about the actual progress from the rare briefing sessions by communications officials in various pilot reform schemes - not from the free trade zone in Shanghai, not from Qianhai in Shenzhen, not from the economic integration program of Beijing, Tianjin and Hebei province.