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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.