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

November 12, 2013

China’s ruling party pledged to let markets play a “decisive” role in allocating resources as it unveiled a reform agenda for the next decade on Tuesday, looking to overhaul the world’s second-largest economy to drive future growth.

China aims to achieve “decisive results” in its reform push by 2020, with economic changes a central focus of overall reforms, the ruling Communist Party said in a communiqué released by state media at the end of a four-day closed-door meeting of the party’s 205-member Central Committee. “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,” the party said in its statement.

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