China Leadership Monitor

The Narrow Road to Reform

Monday, October 7, 2013

The reform policy process this year will culminate in the Third Plenum, which has now been pushed back to November. While the process is on track, delays show the difficulty in crafting a reform design that must adapt to the privileged position of state-owned enterprises and other limitations on reform design. Turbulence in short-term financial markets in June indirectly illuminates some of these problems.