Big hopes on Third Plenum for reform

Bourses in Shanghai, Hong Kong and Shenzhen would probably enjoy a period of robust business in the run-up to Beijing's major high-level conference to decide China's next round of reforms, which is scheduled for mid-November.

The conference is called the Third Plenum of 2013, which is the short form of a very long name: The Third Plenary Session of the 18th Central Committee of the Communist Party of China.

It was the Third Plenum of 1978 that initiated the economy's structural reform. So it is both ritualistically and realistically important to dedicate every Third Plenum (recurring usually every five years) to the sacred cause of reform. And the most convincing way to do it is to inject fresh ideas into a new reform program.