President Hu speaking at the Communist Party congress
Media playback is unsupported on your device

A new leadership will re-think China's economic strategy

Chinese President Hu Jintao has opened a Communist Party congress that begins a once-in-a-decade power transfer.

Mr Hu has said the country will deepen its economic reforms and boost domestic demand to spur a new wave of growth adding that China needed to work towards a more "market-based" exchange rate for the yuan.

China has been trying to boost domestic consumption to offset a decline in exports.

Nigel Cassidy reports.

  • 08 Nov 2012
Go to next video: Three views of China's economy