Newsflash – Premier confirms our advance report on the Third Plenum

As predicted in our recent post, The Third Economic Plenum is Coming Soon, the Provinces are going to get a major haircut to reduce, and ultimately, remove them from commercial activity, other than (by 2017, probably) delivering services to the community – and that might not include national ones like health and education.

A major source of corruption starts at the local level, where officials exploit the power of the chop – the authority required to proceed.

It is also the source of many of the complaints about planning being approved without regard to the local people’s concerns.

It is difficult to see how this is going to be implemented and maintained without the Rule of Law being brought in at the local level.

This could be big, big news.

I discovered that the Premier had been quoted on this on the central government news site by Jianguang Shen of Mizuho Securities Asia Limited.

Thanks Dr Shen.

Categories: China growth, Economic policy, Econonomics, Foreign policy

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