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China Has Returned to Reform Mode

  • Plans announced to open sectors, cut overcapacity, reform tax
  • State Council reaffirms commitment to complete reforms by 2020
LED Lights Illuminate Shanghai's Highways
Photographer: Kevin Lee/Bloomberg
Updated on

China has returned to reform mode.

This week, plans have been unveiled to quicken the clean-up of excess capacity in state-backed companies, level the playing field for private and foreign investors with new access to previously off-limit sectors, and take the next step in a long-awaited fiscal shake up.