Ken Wong, Asia equity portfolio specialist at Eastspring Investments, explains:
“China unveiled its boldest set of reforms for many decades in November 2013. The 60-point reform plan, which many say is the most significant since Deng Xiaoping-led reforms in the late 1970s and early 1980s, included specific policy plans from the relaxation of the one-child policy and revamp of its restrictive household registration system, to interest rate and currency regime liberalisation.
“The progress of these reforms has gripped investors’ attention. If successfully implemented, they will help the world’s second-largest economy gain a more stable footing and transition to a consumption-driven society from a producer model.”
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