Expert predicts 'gradual' approach at third plenum
A Shanghai-based professor of politics said on Friday that he believes authorities will adopt a gradual approach to any major structural economic reforms that are implemented, amid the nation's post-pandemic recovery.  Officials in Beijing said on Thursday that the Communist Party of China will convene the third plenary session of its 20th central committee on July 15, focusing on issues related to further comprehensively deepening reform and advancing Chinese modernisation. Josef Gregory Mahoney from the East China Normal University said there's a need to tackle insufficient demand in the domestic economy.  "On the one hand, a major question that has dogged leaders is the extent to which they are ready to implement major structural reforms to the economy," Mahoney said.  "In the past week or so we've heard from the premier, for example at Davos, that those type of reforms aren't on the table presently, given the need to extend the recovery while facing some really big global uncertainties. Instead he's signalled a gradualist approach where the market plays a more decisive role." Mahoney added that the government faced time constraints.  "On the other hand, it's also clear that there are a number of reforms that are needed now and so we've got this rubric that's being promoted - it's not a new one, but it's become the catchphrase of the third plenum - 'comprehensively advancing reforms'", he said. According to a Politburo meeting on Thursday chaired by President Xi Jinping, who's also general secretary of party central committee, the plenum will last until July 18.