The all-important 19th National Party Congress will determine the leadership team around President Xi and the Communist Party's direction for the next half-decade. More than 2,200 delegates have assembled in Beijing for the week-long meeting, with investors closely watching the group’s economic and political announcements, which could potentially have significant global ramifications. In his opening speech, President Xi emphasized his government's steady handling of the economy, and called on party workers to “strive with endless energy” towards national rejuvenation.
In other economic news from the country, factory output increased 6.60% in September from a year earlier, topping expectations. Meanwhile retail sales grew 10.30% last month from a year ago compared to analyst expectations for a 10.20% rise. AUDNZD, which is prone to fluctuations in China’s economy, has soared in early Thursday trade to around the 1.1135-mark.