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China leader promises "unprecedented" reforms at key Party meeting

A top Chinese leader has promised "unprecedented" economic and societal reforms at the Communist Party's much anticipated plenum meeting next month, state media reported on Saturday.

Yu Zhengsheng, the fourth-ranked member in the elite Politburo Standing Committee of the Communist Party, said the closed-door meeting would "principally explore the issue of deep and comprehensive reforms".

"The reforms this time will be broad, with major strength, and will be unprecedented," he said, according to the official Xinhua news agency.

"Inevitably they will strongly push forward profound transformations in the economy, society and other spheres."

Source: Reuters

May be renminbi will become freely convertible? What do you think?