Chinese President Emphasizes Importance of Reforms

China President Xi Jinping has emphasized the importance of free markets in the country’s economic reforms, state media said on Tuesday, another indication that the government is persevering with plans to bring about sweeping changes.

Allowing market forces to allocate resources would mark a new stage of growth in the world’s second-biggest economy, Xinhua news agency said Xi told the Politburo on Monday.

As part of plans to alter the economy and reduce dependence on exports and state investment, Beijing unveiled in November its most ambitious plan for change in 30 years that would allow free markets to have a bigger role.

via Reuters

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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