China joined Europe and the United States this year as a source of consternation for investors with growth slowing more than expected. This fuelled fears about a hard landing (growth of 6% or less) and a focus on China’s long term problems. Such fears have been accentuated by the leadership transition. So what’s going on in China – has growth bottomed and about to rebound or is a hard landing still likely? Will the leadership change result in a big changes? And what does it mean for Chinese shares which have been in a bear market since August 2009?