China Securities Journal front page editorial (via MNI):
- Likelihood of reform in the second half of this year following Tuesday’s Politburo meeting
- Said the push to liberalize will take over now that “mini stimulus” measures helped reverse a first half downturn
- Reforms will focus on areas such as investment and financing, opening up of state-owned enterprises for non-state investment, establishment of private banks, reforming local government finance and the role of public finance
- In the absence of major stimulus, tax reform will play a big role in the second half
- Export tax rebates will be accelerated
