The third plenum of the 18th Party Congress of China's Communist Party has just concluded, but anyone who held out hopes for a package of bold reform measures is likely to be disappointed - at least initially.
3165p
While the party has promised to allow market forces to exert ever more influence over economic affairs, there is a lack of clarity of how this will be achieved. The central dilemma facing China's policymakers is the difficulty of striking a balance between the needs of an already bloated state sector, with those of China's dynamic private industries - which now provide around 63 per cent of jobs across the economy.