China Finance Online, China’s only online financial information service listed on NASDAQ, recently reported that the Politburo of the Chinese Communist Party met on October 31 to focus on the strategy for stabilizing the economy. The meeting reviewed the macro-economy for the past three quarters and confirmed an increase in the downward pressure, especially relating to long-term risks. The meeting also analyzed the primary cause of the current economic challenges and identified the “deep changes” that are occurring “externally.” As for the next steps, the meeting also specified the focal points for immediate action. These will include a new mention of “capital market reform” in addition to stabilizing the job market, the financial market, foreign trade, foreign investments, government investments and market expectations. Interestingly, the meeting did not mention de-leveraging policy, and did not mention real estate market adjustments. Experts expressed their belief that the meeting is an important and timely meeting, which acknowledged the significant pressure and “external changes,” and pointed in the direction of a market-oriented action list.
Source: China Finance Online, November 1, 2018