China will continue with its supply‐side reforms – RBC CM

The 19th Party Congress kicked off overnight with President Xi delivering the marathon curtain raiser, notes the research team at RBC Capital Markets.

Key Quotes

“All the motherhood statements we’ve come to know were there, including, “China will continue with its supply‐side reforms”, “China will seek a  balance  between  reducing debt and maintaining stable growth”, “China will deepen market‐oriented reform”. But how China is able to move meaningfully past slogan into substance remains the key issue.”