Five years after the onset of the global financial crisis, it is a pity that many countries continue to talk about reform without delivering much. That is why the global economy still needs to brace for the anticipated withdrawal of major developed countries from their quantitative easing monetary policies.

However, China is embracing sustainable growth with enviable determination, and Premier Li Keqiang made it clear at the opening ceremony of this year's Summer Davos on Wednesday that the government will forge ahead with its reform plans.

China's rise to be the world's second-largest economy over the past three decades has been amazing, but it has come at a high cost to the environment. The country's new leaders want to ensure that future growth will be sustainable, driven by technological innovation and bolstered by the conservation of resources and protection of the environment.