Reform is the only way: Wen

Premier Wen Jiabao told the Chinese people to be patient as market reforms are implemented, despite wide economic and social disparities. He also said the government has no plans to increase the value of the yuan and liberalization of banking will be limited, despite foreign investment. Speaking in a nationally-televised news conference at the end of the National People’s Congress, Wen said: �To back-pedal offers no way out.� Wen said the government would maintain control of commercial banking as the Big Four restructure. He vowed to increase spending on infrastructure in the impoverished countryside in an effort to close the gap with booming urban areas and increase domestic demand. As for the environment, Wen said energy consumption relative to GDP growth would be reduced by 20% before 2010.