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With the economy now slowing again, there are signs that Beijing sees the danger of falling back once more on heavy investment – and that it is this time more serious about launching the structural reforms needed to push the country in a new direction.
　　Loosening the official grip on the renminbi is crucial because a stronger currency would encourage businesses to focus less on exports and more on service industries from healthcare to accountancy. With its trademark gradualism, China has made strides in the past two years on this front.new jordans basketball shoes sale It has created an offshore renminbi market in Hong Kong; though still in its infancy, this has provided a valuable testing ground for a freely traded currency.