China’s broadest economic reforms since the 1990s will add less than half a percentage point to annual growth this decade, a survey showed, underscoring the likelihood of a cut in the nation’s expansion target.
Vice President Joseph Biden arrives in Japan today on a trip to demonstrate the American commitment to the Asia-Pacific and defuse tensions over a Chinese air defense zone that drew criticism from the U.S. and its allies.
China’s broadest plans for economic reform since at least the 1990s circulated on Internet bulletin boards hours before their official release, in a reprise of challenges authorities have had with early data publication.
China’s state-owned companies, coddled by cheap credit and sheltered monopolies for years, face a less comfortable future after Communist Party leaders pledged to give market forces a bigger role in the economy.
China elevated the role of markets while maintaining the state’s dominance in the nation’s economic strategy, seeking to balance finding new sources of growth with sustaining the Communist Party’s grip on power.
China elevated the role of markets in the nation’s economic strategy after President Xi Jinping oversaw a gathering of Communist Party leaders while stopping short for now of unveiling detailed policy shifts.
The odds of a severe slowdown in China or a credit crisis will fall after a Communist Party summit in November as leaders tackle local-government debt and financial reforms, a Bloomberg News survey indicates.
China’s plan to set up a test zone in Shanghai with reduced state control over policies from interest rates to foreign investment has split analysts over whether it will boost the economy across the nation.