China’s Third Plenum communique: CCP to adopt resolution on further deepening reform comprehensively

The Chinese Communist Party (CCP) central committee published its Third Plenum communique on Thursday, stating that they “will adopt a resolution on further deepening reform comprehensively.”

Additional takeaways

Must consciously place reform in a more prominent position.

Reform tasks set out in this decision to be completed by 2029.

Will implement measures to prevent, defuse risks in key areas such as real estate, local government debt, and small and medium-sized financial institutions.

Will raise the level of party's leadership in further deepening reforms across the board and promoting Chinese-style modernisation.

To further coordinate reforms in key areas such as finance and taxation.

To deepen the reform of foreign trade system.

To carry out social security risk prevention and control network, effectively maintain social stability.

To deepen the reform of management system for foreign, outbound investments.

Will deepen supply-side structural reform, establish and development new growth drivers.

Market reaction

AUD/USD is little impressed by these resolutions, keeping its range at around 0.6740, up 0.13% so far.