China's Party Congress will focus on growth stabilisation

Structural reforms will be laid out.

"We expect the new leaders to push ahead with the structural reforms and take modest measures to consolidate the stabilisation in growth," said Barclays ahead of the the long-awaited 18th Party Congress which is slated to start on 8 November and last for a week. "It will set new policy directions and elect new leaders for the next five to ten years."

"But the existing political structure points to policy continuity, hence, the consideration of new systemic reform policies will probably have to wait until the Third Plenum of the Central Committee of the Party, which is about a year away," it warned.

"In the meantime, the new leaders could harvest some low-hanging economic reform fruits, such as resource pricing, income distribution and tax policies. We might start to hear such discussions at the annual economic work conference in early December or at the National People’s Congress in early March," it added.

"However, investors expecting immediate and drastic changes in policy or another big stimulus package will likely be disappointed." Barclays noted further.