China’s Senior Party Official For Policy Research:
Promoting Chinese-style modernisation faces many complex
contradictions and problems, but it is necessary
China’s senior party official for deepening reform:
We have consolidated and developed the advantages of the socialist
system with Chinese characteristicsWe will continue to
improve and develop the socialist systemWe will inject
strong impetus into economic developmentWe will continue to
reform the socialist market economyWe will improve the
modern market system and promote market-orientated reform of factors
of productionWe will deepen
reform of state-owned enterprisesWill encourage the
development and expansion of private economyWill build systems
and mechanisms to support comprehensive innovationWill deepen reform
of the fiscal, taxation and financial systemsImprove the systems
and mechanisms for integrating urban and rural developmentWill build a new
system of an open economy at a higher levelThe functions of
party and state institutions adapted to the new situation and have
been continuously improvedWe will promote
income distributionPromote the
establishment of the world’s largest education, social security,
medical and healthcare systemsWill win the largest
battle in history against povertyWill improve the
centralised, unified, efficient and authoritative national security
leadership systemWill continue to
improve the party’s leadership system and improve the supervision of
the party and the stateWill establish and
improve a comprehensive approach to tackling corruptionBy 2035 the
country’s governance system and governance capacity will be basically
modernised
China’s senior party official for economic affairs:
Should promote state-owned capital and enterprises to become
stronger, better and bigger, enhance their core functions and
competitivenessOn the other hand,
should create a good environment, opportunities for private
enterprisesImprove the
long-term participation of private enterprises in major national
projectsShould formulate and
promulgate law on promoting private economyShould greatly
increase total factory productivityPropose to improve
the financial relationship between the central and local governmentsIncrease local
independent financial resources and expand local tax sources
***
Plenty to consider in the above. Its all encouraging but until details emerge, which won’t be until a few months time I suspect, its hard to get too excited. Government authorities, it doesn’t matter which country, tend to paint a rosy picture.
This article was written by Eamonn Sheridan at www.forexlive.com.
