4 Min Read
BEIJING, Nov 12 (Reuters) - Chinese leaders unveiled a reform agenda for the next decade on Tuesday as they seek to put the world's second-largest economy on a more sustainable path and reduce possible social and political tensions. The ruling Communist Party pledged to let markets play a "decisive" role in allocating resources and said it aimed to achieve "decisive results" on reforms by 2020, a statement released by the official Xinhua news agency said. For a full story, see Following are highlights from the statement: ON THE ECONOMY must unceasingly consolidate and develop the state economy, preserve the status of the state economy, let the state sector fulfil its leading role, and unceasingly increase the energy, control, and influence of the state economy. "The core issue is to straighten out the relationship between government and the market, allowing the market to play a decisive role in allocating resources and improving the government's role." "(We) are aiming to make decisive achievements on reforms in key areas and crucial parts of the economy by 2020 to form a well-established, scientific and efficient system and to make the regulatory framework in all areas more mature and standardised." " will lower the entry barrier on investment and speed up free trade zone development while expanding the opening up of inland border areas." ON FISCAL REFORM " will improve legislation and clarify administrative power over the fiscal system while reforming the tax system, stabilising tax burdens, make the (government) budget transparent, increase efficiency and establish a modern fiscal system to let both the central and local governments play active roles." " will improve the budget management system, improve the tax collection system, and establish a system of corresponding administrative power and expenditure responsibility." ON SOCIAL REFORM " will establish a more fair and sustainable social security system and deepen medical and health system reforms." " should step up efforts to improve social welfare and deepen institutional reforms to realise social justice and equality. We should also make reforms in the income distribution system to achieve common prosperity." " must improve social management style, promote the vitality of social organisations, innovate an effective social conflict prevention and resolution system, perfect the public security system, establish a state security committee, and improve systems and strategies to ensure national security." ON THE ENVIRONMENT AND RESOURCE MANAGEMENT "China will establish a robust system for managing natural resource property rights, draw a red line demarcating environmental protection, implement a payment system for resources and an environmental compensation system, and reform the environmental protection management system." " will quicken efforts to establish a new agricultural operation system and give farmers more property rights, advance the balanced allocation of public resources and the fair exchange of urban and rural resources to improve the healthy development of urbanisation systems." " will establish a unified urban and rural construction land use market, improve the financial market system and deepen reform of the science and technology system."