Summary Box: Chinese politics delay major reforms

AP News
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Posted: Mar 13, 2012 12:20 PM
Summary Box: Chinese politics delay major reforms

SMALL STEPS: China's Cabinet ministers at this week's annual session of the national legislature have promised only gradual steps to help entrepreneurs and curtail state companies.

CALLS FOR REFORM: The World Bank, Chinese economists and the government's own researchers have urged a drastic restructuring to curb the dominance of state industries, overhaul a wasteful banking system and promote consumer spending to reduce reliance on exports.

THE BACKDROP: The Communist Party leadership is in a transition to a younger generation. There was little talk during the past week's ceremonial events of reforms that might erode the party's monopoly on power.