According to some market reports Beijing has just released some further details on the Communist Party Central Committee´s reform plans, as per the results of its meetings last week.
At first glance these do indeed seem to be quite far-reaching and appear to touch upon several of the "command economy" elements remaining in China.
In that regard, it is apparently Beijing´s intention to give collectively-owned land the same rights status as state land, for example. That is quite a far reaching reform in a country where heretofor private ownership of land was a reserve of the State.
As well, China is to loosen its one-child policy and scrap residence restrictions in small cities. The latter measure may allow for a freer movement of labour, which has both economic and political implications in a Communist State.
More on the financial side of things, local goverments will reportedly be allowed to broaden their financing channels and overseas investment by individuals and companies is to be encouraged.
Price reforms in resource sectors will be pushed forward and capital account convertibility accelerated.
Source: LiveCharts
At first glance these do indeed seem to be quite far-reaching and appear to touch upon several of the "command economy" elements remaining in China.
In that regard, it is apparently Beijing´s intention to give collectively-owned land the same rights status as state land, for example. That is quite a far reaching reform in a country where heretofor private ownership of land was a reserve of the State.
As well, China is to loosen its one-child policy and scrap residence restrictions in small cities. The latter measure may allow for a freer movement of labour, which has both economic and political implications in a Communist State.
More on the financial side of things, local goverments will reportedly be allowed to broaden their financing channels and overseas investment by individuals and companies is to be encouraged.
Price reforms in resource sectors will be pushed forward and capital account convertibility accelerated.
Source: LiveCharts
