Premier Li Keqiang promised China’s National People's Congress to speed up reform, manage mounting risks in the financial system, tackle pollution and maintain a 7.5% economic growth rate all at the same time - quite an undertaking.
To be sure, Li gave himself some wiggle room in his first annual report on Wednesday by dubbing the growth target flexible. He needs it as risk in the shadow banking system is building and water pollution is reaching critical levels.
But even with it, he will still need to perform a careful balancing act.
On the financial front alone Li plans this year to establish...