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China
Wang Xiangwei

Opinion | Xi Jinping appears poised to unveil sweeping economic changes

All indications are reforms presented to next month's plenum will loosen government's grip on economy while strengthening one-party rule

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As the central leadership prepares to announce the date for its landmark meeting next month to consider a package of measures to expand economic reforms, speculation about the strength and scope of those measures is intensifying.

Over the weekend, Yu Zhengsheng, the No 4 member on the Politburo's Standing Committee - and therefore the country's entire political leadership - further piqued curiosity by promising that the Communist Party Central Committee's third plenary session would result in "unprecedented" social and economic reforms.

At the same time, the Research and Development Centre of the State Council, a leading government think tank, released a detailed roadmap of reform measures it has submitted to top leaders for discussion at the upcoming meeting.

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The plan covered eight areas, ranging from a dramatic loosening of government approval procedures and a break up of state sector monopolies to making the yuan fully convertible within 10 years and more controversial land reforms.

A new report co-authored by Xi adviser Liu He called for reducing government approvals.
A new report co-authored by Xi adviser Liu He called for reducing government approvals.
The report has attracted widespread attention not only because of its comprehensive level of detail, but also its two principal authors: Li Wei, a former secretary to the former reformist premier Zhu Rongji, and Liu He, a current key economic adviser to President Xi Jinping.
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According to several people who recently met Beijing's top policymakers, Xi has shown resolute determination to push for drastic economic reforms despite strong resistance from various special interests.

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