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1.Market Observations, 8.Was Sticky

13 Oct 2016 (AFR) – Signs of Chinese pick-up open way for more reform

(13 October 2016, AFR, p12, by, Lisa Murray, Angus Grigg)

‘Double-digit growth in car sales, the first pick-up in rail freight volumes for almost three years and an upbeat speech from Premier Li Keqiang has set the scene for better than expected Chinese data due out next week. As China’s leadership sounds increasingly confident on the economy, which they believe has “stabilised”, there are also early signs of movement on the government’s long awaited reform agenda. In recent weeks Beijing has announced a plan to reduce corporate debt levels, forced the merger of two steelmaking giants and allowed another to slip into bankruptcy, in a sign it is finally beginning to tackle industrial over-capacity.’

Read more at AFR.com (might need AFR login access, or try: AFR.com /trial)

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