Pledge of strong reform

PREMIER LI KEQIANG'S DIALOGUE WITH GLOBAL corporate executives on Tuesday, prior to the start of this year's Summer Davos in Tianjin, and his keynote speech opening the event on Wednesday were, in effect, China's report card to the world about its transition to a more efficient economy.

Compared with a couple of years ago, China's economic strategy has become more comprehensive and balanced, featuring more specific targets. As Li has repeatedly said, instead of just chasing GDP growth, the government aims to keep a few main indexes within a reasonable range.

The definition of an acceptable range being GDP growth of around 7.5 percent for the year, so enough urban jobs are created, and inflation below 3.5 percent; these two will be achieved with no abrupt expansion of the money supply and no major setback in foreign trade.