1. The Communist Party of China (CPC) will convene the fifth plenary session of its 18th Central Committee to outline the 13th Five-Year Plan (2016-2020) for national development on Monday.
2. China's central bank last Friday cut interest rates and lowered the reserve requirement ratio (RRR) to promote growth and interest rate liberalization. The People's Bank of China cut its benchmark one-year lending and deposit rates by 25 basis points each to 4.35 percent and 1.5 percent, from October 24. The regulator also cut the RRR for all financial institutions by 50 basis points. This is the fifth RRR reduction and the sixth round of interest cuts in the last year.
3. It is essential to be innovative when drawing up macroeconomic regulation and reform measures, as they are expected to promote economic growth and industrial upgrading, Premier Li Keqiang said last Friday. More targeted and flexible macro-control measures should be rolled out, including fiscal and monetary policies, such as interest rate and reserve requirement ratio cuts, which would keep the economy running on a stable track, Li said at the Party School of the Communist Party of China (CPC) Central Committee.
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