China needs a raft of reforms to make new economic strategy work govt advisers


Source: sharenet.co.za sharenet.co.za

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China needs a raft of reforms to make new economic strategy work - govt advisers (Writes through with government data, additional comments) By Kevin Yao BEIJING, Sept 29 (Reuters) - China will need a plethora of reforms if it is to make a new economic strategy that relies mainly on domestic consumption work, advisers to the Chinese cabinet said on Tuesday. President Xi Jinping has proposed a "dual circulation" strategy for the next phase of economic development in which China will rely predominantly on "domestic circulation", to be supported by "international circulation". "To rely mainly on domestic circulation, we indeed...