Targets for quality growth

China has set lower economic targets for this year, which is a fair reflection of the country's continuing efforts to restructure the economy and tilt it in favor of higher quality growth.

The global economic uncertainties that have been the fallout from the financial crisis have cautioned domestic policymakers against potential growth pitfalls. As a result, the central government set an annual GDP growth target of 7.5 percent on Tuesday. The money-supply growth target was set at 13 percent and the target for fixed-asset investment was set at 18 percent.

The lower growth targets, together with the iron fist being shown to real estate speculation, unequivocally show the nation's determination to restructure the economy and make it less reliant on investment and monetary boosts.