When it comes to China's vaunted market reforms, the devil is in the details. For November's Third Plenum of the Chinese Communist Party's 18th Congress, the top leaders of the country's new government held four days of private meetings at a heavily fortified Beijing hotel. They followed this enclave with a communique that sketches out President Xi Jinping and Premier Li Keqiang's agenda for the rest of the decade. Setting 2020 as the target for achieving several important goals, the 4,600-word document promises to unshackle markets by giving them a "decisive" role in the Chinese economy. But it's light on specifics, a fact not lost on restive investors.
展开▼
