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China’s third plenum
China

Party to flesh out reform promises by releasing full version of third plenum communiqué

Full version of third plenum communiqué is expected to be published within days, giving more detail of measures to sustain economy

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The markets had hoped for the faster deregulation of interest rates and the exchange rate and the opening-up of the capital account. Photo: AFP
Jane Caiin Beijing

Beijing is expected to release the full transcript of a key policy document signed off at the Communist Party's third plenum within a week after the meeting ended.

Detailed reforms aimed at sustaining economic growth would be unveiled in the full version of the communiqué, said Zhang Zhuoyuan, who helped draft the document.

"China will accelerate the reform of the exchange rate," Zhang said, adding that the full version of the communiqué would also mention the controversial property tax.

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The vaguely worded communiqué, released on Tuesday night after a four-day meeting of nearly 400 top leaders, failed to impress.

Mainland and Hong Kong stock markets slumped the next day. But Zhang, an economist at the Chinese Academy of Social Sciences, said that while the communiqué "briefly touched" on the reform topics, the full version would be more specific.

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Guan Qingyou, a vice-director of research at Minsheng Securities, said the full transcript would be released next Tuesday.

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