China Plenum Reforms Start Appearing

China’s leaders have unveiled a series of reforms aimed at overhauling its economy over the next decade.

In a statement issued after a closed-door summit, they promised the free market would play a bigger role.

A new committee will oversee internal security to guard against social unrest, and farmers will be given more property rights over their land.

A BBC correspondent says the leaders will now have to persuade officials below them to implement the reforms.

The so-called Third Plenum talks began in Beijing on Friday, and ended with a brief communique outlining areas that had been agreed on.

The BBC’s Celia Hatton in Beijing says the reforms could carry enormous importance – a more complete list of changes to the economy and the social sector is expected to be released in the coming days, or even weeks.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza