RSS
12 Nov 2013

China vows ‘decisive’ role for markets, results by 2020

Author: admintech | Filed under: World

A worker wields a hammer at a demolition site in front of new residential buildings in Hefei, Anhui provinceBy Jason Subler and Kevin Yao BEIJING (Reuters) – China's leaders pledged to let markets play a "decisive" role in the economy as they unveiled a reform agenda for the next decade on Tuesday, looking to secure new drivers of future growth. China aims to achieve "decisive results" in its reform push by 2020, with economic changes in focus, the ruling Communist Party said in a communiqué released by state media at the end of a four-day conclave of its 205-member Central Committee. The self-imposed deadline for progress – rare for Beijing to lay out in such clear terms – together with the creation of a top-level working group and an emphasis on "top-level design", suggest a more decisive reform push by the administration of President Xi Jinping and Premier Li Keqiang than under the previous leadership. When Deng Xiaoping started the reform and opening movement, he actually did something very similar in nature, creating a very powerful working group," said Steve Wang, China chief economist with The Reorient Group in Hong Kong.

Source: http://news.yahoo.com/china-leaders-approve-reform-agenda-xinhua-094617838–business.html