If the initial summary of China’s highly anticipated economic policy plan disappointed analysts last week, the far more detailed plan that was released by the Chinese authorities late on Friday more than made up for it. The reaction among investors and analysts to the more than 21,000-character document that laid out the Chinese Communist Party’s decisions on how to overhaul the Chinese economy was overwhelmingly positive. ‘‘The breadth of the reform plan has certainly exceeded most expectations,’’ commented Wang Tao, chief China economist at UBS. The document, said the China economists at Goldman Sachs, ‘‘showed high reform conviction and lifted reform expectations and targets.’’ And Yao Wei, an economist in the Hong Kong office of Société Générale, said, ‘‘The new leaders really delivered and promised a number of concrete changes. China’s reform boat has finally set sail.’’ The stock markets echoed the overall sentiment: On Monday, the Shanghai composite […]
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