Xi declares “reform on”

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From Reuters:

China’s key reforms have been smooth over the last three years, but implementation needs to be faster, Xinhua news agency said, citing a statement from a meeting chaired by President Xi Jinping on Tuesday.

Xi called for solid efforts to advance reforms, with more focus needed on the economy, at the meeting of the Central Leading Group for Deepening Overall Reform.

Some analysts say China’s reforms, particularly those of state firms, have been slower than expected.

China should deepen rural land reform and protect land rights according to land transfer contracts and ensure stable business expectations, the statement said. Protection of intellectual property rights should also be improved, the group said.

The statement said green finance was important for environmentally friendly development and supply-side reform.

Let’s see what happens early next year as the economy slows again.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.