http://www.economist.com/news/leaders/21648641-slowing-economy-commands-headlines-real-story-reform-quiet-revolution?fsrc=nlw|hig|16-04-2015|EU

Thanks to a boom in services, China generated over 13m new urban jobs last year, a record that makes slower growth tolerable. Given China’s far bigger economy, expected growth of 7% this year would boost the global economy by more than 14% growth did in 2007.


Li Keqiang pledged that he would cut red tape and make life easier for private companies. It is easy to be cynical, yet there has been a boom in the registration of private firms: 3.6m were created last year, almost double 2012’s total.