China's innovation engine

That China's latest economic data sent global markets up speaks volumes about the world's urgent need for a stable source of growth.

China's industrial output, investment and retail sales for August all suggest that the world's second-largest economy is improving, to the considerable and immediate relief of investors at home and abroad, as the global recovery remains vulnerable to slowdowns in some large developing countries and the withdrawal of cheap money in some major developed countries.

However, even more heartening than such short-term promising figures was a key message on Tuesday from Premier Li Keqiang, who emphasized the Chinese government's determination to kindle the fire of innovation through deepened reforms.