China’s Third Plenary Session earlier this month delivered reforms that have recently been elaborated upon.
Historically, China’s Third Plenum, an annual meeting of the ruling Communist Party, has often ushered in radical reform. By contrast, the meeting’s conclusion yesterday brought only a vague statement.
In this month's viewpoint:
Are shareholders stifling business investment?
The quiet recovery in Europe
Chinese credit – tightening but not crunching
Views at a glance
China’s third quarter GDP growth rebounded to 7.8% year-on-year, having decelerated to 7.5% year-on-year in the last quarter.
Recent scaremongering by market commentators on the state of the Hong Kong property market is just that.
For long-time critics calling for economic rebalancing and the reining in of excessive credit growth in China, they may now be witnessing one of the stronger signs to date that China’s new leaders are serious about structural reforms.