China’s new president hinted at bold new reforms on Tuesday, when the Chinese Communist party’s Central Committee issued a document that was as sweeping in scope as it was short on detail. That apparent contradiction enabled optimists and cynics to focus on either aspect of the communiqué from the so-called Third Plenary Session of the 18th Central Committee.

On Friday, Xi Jinping and the party followed up on their “guideline” document more rapidly than anyone expected. On balance, it appears that the optimists have been proved right.

Most of the reforms have been discussed or even adopted before, and thus amount to more tweaks to existing policies. But, assembled together in a party document that is more properly seen as Mr Xi’s manifesto for the next decade, it makes for an impressive list that – if executed – will dramatically change China.