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China plots economic course

November 9, 2013

The Communist Party in China has started a four-day meeting in the capital, Beijing. While the agenda remains secret, observers suspect major economic reforms could be discussed.

https://p.dw.com/p/1AEX2
--FILE--Chinese workers assemble cars on the assembly line at an auto plant in Zouping, east Chinas Shandong province, 14 August 2013. Chinese automakers are starting to ask some of the largest Western auto parts companies to supply parts that meet American and European regulatory standards, according to senior executives at the parts companies. The requests are the clearest sign yet that after more than a decade of preparation, Chinese manufacturers are starting to feel the confidence to begin high-volume auto exports to the West. In another sign of shifting policy, a senior Chinese Commerce Ministry official said at an auto industry conference in Wuhan on Thursday, Oct. 17, that Chinese automakers should prepare for the lowering of steep tariffs on imported cars. That policy change has never been stated by a Chinese official. Chinese automakers may have a very huge impact from this reduction of tariffs, said Chen Lin, the Commerce Ministry official who oversees international automotive investment policy.
Image: picture-alliance/dpa

The major meeting of China's Communist Party officials is, for the most part, being kept under wraps, but the official Xinhua News Agency said that the meeting had started on Saturday – and along with it, plenty of speculation about what might be discussed.

The agency said the meeting would focus on "comprehensively deepening reform."

New leadership came into power in China in March. They are under pressure to revamp the countries economic growth model. Some expect this could mean entrepreneurs are more involved in the economy and farmers might be given the opportunity to own land. Many industries and all land are state-owned in China.

Economic reform will likely remain a high-priority agenda item despite encouraging news released by China's National Bureau of Statistics (NBS) on Saturday.

According to the NBS, production in Chinese factories showed a year-on-year gain of 10.3 percent. The General Administration of Customs released data on Friday saying exports also grew by 5.6 percent in October compared to the same period last year. This followed a slight drop in exports in September compared to the previous year.

It is unlikely that any news of the Communist Party meeting will emerge while it is taking place, but Xinhua has in the past issued a release on the last day of the meeting.

mz/dr (AFP, AP, Reuters)