Thanks for your comments E.C. Given what Mr. Xi Jinping and the new leadership has been saying and watching what's actually been happening in the past year or two, the indication is that reforms are coming at an unprecedented pace. The accelerated pace of QFII and RQFII approvals, the intensified IPO reviews, new initiatives in Qianhai and Shanghai, the SHIBOR aqueeze followed by liberalization of lending rates, ... are just some examples.

I suppose investors will always need to be aware of risk scenarios such as
geopolitical events triggering an abrupt slowdown in the reform efforts, consumer spending slowing down more abruptly than expected due to anti-corruption measures while investment spending remains on a downward glide path.