Recommended article by Jianguang Shen: Growth and reform as priorities for 2H14

At the Politburo’s half-yearly economic review meeting yesterday, the top leadership pledged to keep promoting reasonable growth as its main focus, as that is a prerequisite to solving all structural problems.

The meeting also confirmed that former domestic security chief Zhou Yongkang is being investigated for corruption — a highlight in President Xi Jinping’s anti-corruption campaign. At the Fourth Plenum in October, the communist top leadership will focus on rule by law, which may put the judicial systems of local governments under central government control, which in principle would make local legal systems independent of local government.

Overall, the meeting suggests that President Xi has consolidated control over the party. Along with maintaining economic growth as the top priority, we believe the reform measures envisaged at last year’s Third Plenum can be implemented.

Click here for full report: MHSA China macro:

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