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The pledges offered here are what you would expect, being very on the surface and involving a more macro-oriented outlook. They did make mention on reforms to curb debt risks and trying to bolster key economic areas. But markets might be more comforted if there were more specifics instead.
For now, this will have to do. I would argue that the lack of details would do little to bolster market confidence. But then again, China has a knack for wanting to look after their image. They already set out more short-selling curbs ahead of the Third Plenum this week to make this all “look good”.
This article was written by Justin Low at www.forexlive.com.
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