“To most outsiders the language of official declarations is mind-numbing. Yet, having listened to Premier Li Keqiang and vice-premier Zhang Gaoli, I found (their plans) at least analytically convincing. They clearly recognise the need for decisive action in response to the challenges faced. What they want to do also makes good sense both on economic and environmental fronts.”
Thus wrote Martin Wolf of the Financial Times yesterday, reporting on his attendance at this year’s China Development Forum in Beijing. The focus of the Forum was on the comprehensive reform programme finalised last November at the 3rd Plenum, and in particular its blueprint for the next round of reforms.
The key document is “The Decision on Major Issues Concerning Comprehensively Deepening Reforms”.
Today, by coincidence, the blog is pleased to publish a detailed analysis of ‘The Decision’, in partnership with leading Hong Kong-based financial advisory firm Polarwide. This Note focuses on the new leadership’s decision to allow market forces to play a “decisive” role in the Chinese economy:
- This is one of the key elements of China’s reform programme established at the 3rd Plenum
- It will slowly but surely erode the privileged position of State Owned Enterprises
- This will be one of the largest privatisation programmes ever seen, and will create major new opportunities for international strategic and financial investors
- This highlights the potential global implications of China’s reform programme
Please click here if you would like to download a free copy of the Research Note.