At the Third Plenum, China vowed to improve the market mechanism and create a fairer market environment for private businesses. Further opening-up was also highlighted, Danske Bank’s Chief Analyst Allan von Mehren notes.
China wants to create a fairer market environment
“This is an important signal at a time when popular perception is that China is moving toward a purely state driven economy. But at the end of the day what matters is the implementation and China has disappointed on this before.”
“Technology and innovation as well as fiscal and welfare reforms are also key priorities. The communiqué released gives a broad outline of priorities and we will get more detailed policy documents over the weekend.”
“Reforms or not, it will not do much to lift China out of the challenges short term as these are more related to the housing crisis. It does affect China's long term growth potential, though.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD drops to daily lows and challenges 1.0900 post-Lagarde
EUR/USD maintains its bearish bias and declines toward 1.0900 after the ECB left no room for surprises at its event, holding key rates unchanged. Meanwhile, President Lagarde said inflation in the region is expected to hit the 2% goal in H2 2025.
GBP/USD remains on the defensive in the sub-1.3000 region
GBP/USD stays on the back foot and trades in negative territory below 1.3000 in the American session on Thursday. The US Dollar benefits from the souring market mood and makes it difficult for the pair to build on its weekly gains.
Gold approaches $2,450 as US Dollar corrects
Gold holds steady above $2,460 on Thursday after posting small losses on Wednesday. The rebound seen in the US Dollar amid risk aversion and the US Treasury bond yields' resilience, however, limits XAU/USD's upside in the American session.
Billionaire Mark Cuban highlights Silicon Valley's increasing support for former President Trump as a “Bitcoin Play”
Bitcoin (BTC) faces resistance and stalls at around the $65,000 mark on Thursday, while on-chain data indicate a rise in holdings among short-term investors, coupled with a slight increase in inflows at US spot Bitcoin ETFs.
What the US election could mean for deficits, debt and the yield curve
Government borrowing and the national debt are barely getting a mention in the US election campaign, yet a failure to change trajectory risks further debt downgrades, more market volatility and higher borrowing costs.