Reuters: Financial and tax reforms likely priorities

Reuters: Financial and tax reforms likely priorities

Chinese leaders look to set the country's economic agenda for the next decade at the Third Plenary Session. The priority is likely to be financial and tax reforms but the meeting may also discuss how to loosen the grip of the household registration, or hukou, system that constrains labor mobility and how to push land reform to help quicken urbanization.

AP: China to hold reform planning meeting

Party leaders have promised significant but unspecified reforms, while analysts say the most likely changes will be to the financial system. Such sessions have in the past been a platform for the announcement of economic programs.

The Guardian: China prepares to liberalize finance

The next phase of liberalization planned by China's Communist Party includes finance, the British newspaper predicted. Possible reforms include offering higher savings interest rates and making yuan convertible.

Encouraging signs of possible financial reform also explained why British Chancellor of the Exchequer George Osborne was in China last month – he was seeking to make London a global hub for dealings of yuan if the internationalization of the Chinese currency could happen in the next five to 10 years.

The Strait Times: China to focus on reform, openness

Economists say Beijing will likely tackle areas such as liberalising bank deposits and speeding up the development of capital markets.

Unlike more unwieldy issues such as reforming the household registration, or hukou, system, the anticipated financial overhaul has reached a point - with projects like the Shanghai free trade zone already launched - where there is likely to be a road map, said observers.

CNN: Economy tops China's agenda

China is stepping onto a period of slower growth after a decade of double-digit GDP expansion, posing pressure for the world's second biggest economy to address issues that could mire further economic growth and social stability. "For many China observers and market participants, this is the 'make or break' moment," said UBS economist Tao Wang.

WSJ: China stocks set to rise ahead of meetings

The report predicted China's stock market will likely rally in the remaining days of this week as investors raised their hopes for reforms to loosen financial control ahead of the Third Plenary Session of 18th CPC Central Committee slated on Nov 9-12. Historical data show that China's A-share market rose in the 10 trading days before seven of the eight top-level economic-policy meetings, according to calculations by UBS AG.

IBTimes: Potential economic reforms could decide fate of foreign companies

Foreign companies in China are keeping a close eye on a looming key Party meeting, in hopes of a sign the new administration will be friendlier to them. A number of foreign companies, led by Apple and GSK, were targeted amid corruption and price-fixing accusations. Starbucks joined them lately for allegedly overcharging Chinese customers compared with its much lower price in the US market. Foreign companies raised their hopes that a potential reform package including reducing government intervention in the economy will make their presence in the Chine market easier.