Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Policies

    China pushes market-based reform despite epidemic

    By David Blair | China Daily | Updated: 2020-05-29 10:07
    Share
    Share - WeChat
    The production workshop of a private yacht maker in Hunan province, which now exports to markets including the United States, Italy and Africa. [Photo by HE MAOFENG/FOR CHINA DAILY]

    You might think that setting up the basic institutions of business and market governance-the rules of the road, the software-would be easy compared to building physical infrastructure, developing technology or raising a nation's education level.

    But it turns out that building efficient institutions and commercial governance is the hard part of development.

    Many nations have failed to develop and some currently developed nations are in danger of regressing because they have been unable to reform.

    In his famous book, The Rise and Decline of Nations, late University of Maryland economist Mancur Olson argued that progress is stopped by entrenched groups of people or companies with concentrated interests who use their power to block efficient reforms that would be good for the whole of society but bad for them.

    On the other hand, the unique strength of China's reform and opening-up process has been that China's government has, for over 40 years now, steadily pushed the gradual institution-building that allows markets to work well. In recent weeks, China's leaders have repeatedly emphasized that the economic problems caused by COVID-19 will not derail the continuation of this market-based reform process that made the nation's spectacular economic growth possible.

    In a discussion with national political advisers at the third session of the 13th National Committee of the Chinese People's Political Consultative Conference, President Xi Jinping emphasized that the country is committed to seeing that the market plays the decisive role in resource allocation and that the government plays its role better, as reported by Xinhua News Agency.

    "The practices in reform have made us realize that we must under no circumstances turn our back on addressing blindness of the market, and we must not return to the old path of a planned economy," Xi said.

    China's leaders have been stepping up the push for fundamental market-based economic reform since Xi's first year in office. The Third Plenary Session of the 18th CPC Central Committee in 2013 set out a strong agenda to restructure the role of the market, giving market forces a "decisive" role in allocating resources, instead of the "basic" role stated in earlier documents.

    As in all countries, the government retains the core functions of macroeconomic management, market regulation, provision of public services and environmental protection.

    The business environment and the health of the private sector are critical to China's economy. The World Economic Forum uses the numbers 60/70/80/90 to describe the importance of the private sector to China's economy: "(Private companies) contribute 60 percent of China's GDP, and are responsible for 70 percent of innovation, 80 percent of urban employment and provide 90 percent of new jobs. Private wealth is also responsible for 70 percent of investment and 90 percent of exports."

    At the two sessions this year, Premier Li Keqiang stressed that the government is taking strong steps to aid private businesses, especially small and medium-sized enterprises that have been hard hit by the coronavirus. Li also called for greater steps forward in reform and opening-up to overcome obstacles, promote fair competition. He also called for rolling out more concrete steps to help businesses and create a market-oriented, law-based and internationalized business environment.

    A recent guideline released by the CPC Central Committee and the State Council, China's Cabinet, stressed that the country will focus on improving the system of property rights and pursuing market-oriented allocation of production factors.

    1 2 Next   >>|
    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    亚洲av无码一区二区三区在线播放| 精品爆乳一区二区三区无码av| 无码少妇一区二区浪潮av| 午夜视频在线观看www中文| 丰满岳乱妇在线观看中字无码| 无码人妻精品一区二区蜜桃网站 | 久久伊人中文无码| 亚洲AV无码成人精品区狼人影院| 亚洲AV无码久久精品狠狠爱浪潮| а√在线中文网新版地址在线| 国产在线观看无码免费视频| 无码人妻精品中文字幕免费| 精品久久久久久无码不卡| 超碰97国产欧美中文| 日韩精品久久无码中文字幕| 日本妇人成熟免费中文字幕| 蜜臀av无码人妻精品| 精品久久无码中文字幕| 亚洲AV永久无码区成人网站| 东京热人妻无码一区二区av| 亚洲欧美精品一区久久中文字幕| 久久亚洲精品中文字幕三区| 亚洲欧美日韩中文久久| 亚洲中文字幕伊人久久无码| 无码日韩人妻AV一区免费l | 日韩成人无码中文字幕| 亚洲AV无码乱码在线观看牲色| 无码精品人妻一区二区三区AV| 国产免费久久久久久无码| 日韩成人无码影院| 黄A无码片内射无码视频| 国产AV无码专区亚洲AVJULIA| 精品人妻无码一区二区色欲产成人| 久久久久亚洲av无码专区喷水| 亚洲ⅴ国产v天堂a无码二区| 亚洲AV永久无码区成人网站| 精品无码国产一区二区三区AV| 国产成人无码精品久久久免费| 亚洲av无码专区在线观看素人| 中文字幕无码不卡免费视频| 日韩精品无码一区二区中文字幕|