China releases sweeping reform plans
BEIJING Nov 15 (Reuters) - China released a raft of detailed reform plans on Friday, promising sweeping changes to the economy and the country's social fabric as it seeks to unleash new sources of growth after three decades of breakneck expansion show signs of faltering.
A reform document released by the Communist Party following a four-day conclave of its top leaders said China would accelerate capital account convertibility, scrap residency restrictions in small cities and townships, integrate urban and rural social security systems and push forward with an environmental tax, among many other measures.
China will also ease its family planning policies and abolish a controversial labour camp system, according to the document, the official Xinhua news agency said on Friday.
The document was approved by the leaders' meeting. In an initial communique they had promised "decisive" results by 2020.
- China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan |
- U.S. court rulings create new uncertainty over Obamacare
- Israel pounds Gaza despite international peace efforts |
- EU readies possible capital, tech sanctions on Russia
- Islamic State crushes and coerces on march towards Baghdad