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Beijing announced earlier this month it will move some of its city administration out of the city center to the eastern suburbs. The move has long been anticipated and has driven up housing prices in Tongzhou District, where a new municipal subsidiary administrative center will be built.

Supervision will be intensified both from inside and outside SOEs to prevent abuse of power and the erosion of state-owned assets, and a mechanism for accountability will be established to track violations, including corruption and embezzlement.

China is striving for a level playing field for both Chinese and foreign firms as the economy is seeking innovation from all sources, for more sustainable growth.

In his speech, Xi called on SCO countries to enhance regional economic cooperation in such areas as inter-connectivity of transportation facilities, investment, production capacity and equipment.

Unfortunately, the strong message was lost on the Doubting Thomases, who chose to stay away from an event that was more for healing wounds rather than raking them. The Occident, which is propagating that the parade was an indication of China flexing its muscles, remain oblivious of the fact that Japan is pursuing to amend its constitution to build its armed forces again, which may actually endanger the region and the world.