China will comprehensively deepen reform to build a high-level socialist market economy, according to the full text of the Communist Party of China (CPC) Central Committee’s development proposals made public on Tuesday.
China will uphold and improve the basic socialist economic system, give full play to the decisive role of the market in resource allocation, let the government better play its role, and promote the better integration of an efficient market and a capable government, said the document.
The proposals emphasize the need to stimulate the vitality of various market entities, optimize macro-economic governance, establish a modern fiscal, taxation and financial system, foster a high-standard market system and speed up the transformation of government functions.
China will unswervingly consolidate and develop the public sector of the economy and encourage, support and guide the development of the non-public sector, the document said.
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