Former head of top China investment back says you can't have both
China made noise throughout 2014 about reforms to curb speculation in housing, rampant local government borrowing and to transition to a consumer-led economy.
It had some success but that's been eroded by knee-jerk moves to stimulate growth every time there's a stumble.
Former China International Capital Corp CEO Zhu Yunlai said the twin goals of reform and 7% growth are incompatible.
He said the government can only have rational reform if it lets go of the growth target. That would be an opportunity to take more determined action.
In any case, that doesn't seem to be the way the government is heading. They're more concerned with erasing the 30% fall in the Shanghai Composite (+0.88% today).
