economic system

Opinion | China’s third plenum shows its reform era has entered a new phase

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Opinion | China’s third plenum shows its reform era has entered a new phase

China’s economic system is founded on the reforms carried out in the 1990s. With the unification of dual exchange rates in 1994, markets became the main tool to set prices. Many state-owned enterprises were either privatised or went bankrupt. Since then, privately managed businesses have consistently gained ground. The conventional formula to describe the role … Read more

China’s third plenum to target ‘most urgent’ economic reforms: People’s Daily

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China’s third plenum to target ‘most urgent’ economic reforms: People’s Daily

China will continue on the path of economic reform, tackling the “most urgent things” first, a high-profile commentary in the Communist Party’s official newspaper pledged ahead of a long-awaited conclave next month. The new reforms will focus on “reform of the economic system”, including “upholding and developing the basic economic system” and “building a high-level … Read more