Vice premier speaks at Davos

Vice Premier Li Keqiang, the official who is expected to become Premier Wen Jiabao’s successor, said China will maintain its current economic policy but with increased flexibility to manage inflation expectations, the Wall Street Journal reported. Speaking at the World Economic Forum in Davos, Li’s comments hinted at a shift toward a slightly tighter monetary policy. Li generally avoided controversial topics in his speech, but did make reference to the negative effects of protectionism which was interpreted as a response to American measures against certain Chinese imports. Beijing delegates also hinted a "gradual change" in the renminbi exchange rate.