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Signals from the Third Plenum: Further reform
Signals from the Third Plenum: Further reform
The much-anticipated Third Plenary Session of the 18th Central Committee of the Communist Party of China ended with a special focus on reform and some new initiatives.
These new initiatives include:
- the announcement of a new scope, goal, and timetable of the reform;
- granting greater power for the market to allocate resources;
- and setting up a new organizational structure to enhance reform.
Although lacking some specific details, as well as seemingly disappointing state-owned enterprise (SOE) reforms, it lays the foundation for China’s next ten years of reform and opening up.