Reform hopes mount as third plenum nears

According to Global Times, experts and scholars believe that the upcoming session will mark a turning point for China, one that will have lasting ramifications for the country’s economy over the coming decade. According to reports, at the center of the reforms will be improving the market economy system. Reforms to be discussed at the upcoming plenum will cover eight core areas, including administration, monopoly industries, land, financial and tax systems, management of State assets, innovation and opening-up policies. The roadmap plan also calls for the promotion of market competition by further relaxing controls over industry access to outside investment, the deepening of social welfare reform by setting up a “basic social security package for all citizens,” and the furthering of land reform by allowing collectively owned rural land to enter the market.

Source: Global Times,