Official pushes for reforms
A top Chinese official committed a faux pas by criticizing the path of policies and the lack of action towards reform in the People's Daily today.
"If old ways continue, not only will investment rates continue to fall and debt continue to rise, but financial risks will also increase," Wang Yiming, deputy director of the Development Research Centre of the State Council wrote.
His position as the vice head of the cabinet think-tank may give him more leeway to push for reforms.
Meanwhile, Xinhua carries a report today saying China's cabinet has launched a nationwide inspection to make sure growth targets are being met. The effort will no doubt run into a multitude of lies and whitewashing.
Inspectors have been sent to the provinces, focusing on areas of maintaining steady economic growth, implementing major policy measures and "supply-side structural reforms", as well as supporting investment projects and innovations, Xinhua said.
