Quotes of the day

"Only if China's GDP growth is maintained at 5 to 6 percent, and if overcapacity does not lead to a chain of business failures, can we effectively prepare for long-term economic reform."

Ye Tan, a well-known commentator

"As China attempts to make the transition to a more open economy, two things are virtually inevitable: Market volatility and difficult policy decisions, many of which need to be taken in the heat of the moment."