Making Deeper and More Solid Progress in Comprehensively Furthering Economic System Reform

The article by the CPC Leadership Group of the National Development and Reform Commission (NDRC) was published in this year's tenth issue of Qiushi Journal. It emphasizes that it is imperative to study and implement the guiding principles of General Secretary Xi Jinping's important expositions on comprehensively deepening the reform in a systemic and in-depth manner, and prioritize the reform initiative consciously. It calls for efforts to make deeper and more solid progress in comprehensively furthering economic system reform by identifying the direction, upholding fundamental principles and breaking new ground, and encouraging hard work and concrete results.

The article points out that these far-sighted and profound conclusions made by General Secretary Xi Jinping combine the basic tenets of Marxism with China's realities and the best of traditional culture. They have set the general objective of improving and developing the system of socialism with Chinese characteristics as well as modernizing China's governance system and capacity. They have also elucidated correct direction, principles, methods, and key tasks of the reform and served as a fundamental guide for our next steps in this regard at a new historical juncture, holding both great theoretical and practical significance.

Since the 18th CPC National Congress in 2012, we have established the basic institutional framework in various fields where historic, systemic, and holistic transformations have been achieved. In terms of the reform of economic system, we have continuously improved basic socialist economic systems, and accelerated efforts to improve the socialist market economy. In working unswervingly to consolidate and develop the public sector and encourage, support, and guide the development of the non-public sector, we have given play to the decisive role of market forces in resource allocation and ensured the government plays its role better. As a result, the continuously improved market system and system for macroeconomic regulation have injected strong impetus into high-quality development and created a new miracle of economic development.

Since 2012, we have not only achieved numerous historical accomplishments but accumulated invaluable experience in the process of comprehensively deepening economic system reform, which are of vital significance for further steps in the reform and our efforts to break down institutional barriers restricting high-quality development.

The current and upcoming period is crucial for building China into a great modern socialist country and advancing the rejuvenation of the Chinese nation through Chinese modernization. To push ahead with the reform, we should adopt a problem-oriented approach, and address the bottlenecks hindering the formation of a new development dynamic and high-quality development. We should also pay attention to challenges of the development environment, diffuse public concerns in areas related to their wellbeing and deal with hot-spot issues affecting social fairness and justice. By doing so, we can fend off and defuse major risks and provide economic and social development with new engines and energy.

To promote economic system reform, we must center on seven tasks in building a high-level socialist market economy:

1. Improving the mechanisms for working unswervingly to consolidate and develop the public sector and encourage, support, and guide the development of the non-public sector;

2. Establishing a high-standard market system;

3. Resolving obstacles and difficulties impeding the development of new quality productive forces;

4. Building new institutions for a more open economy

5. Intensifying reforms concerning people's wellbeing;

6. Enhancing the mechanisms for driving comprehensive green transformation;

7. Providing stronger guarantees for economic security

Editor: Yi Xiaowei