BEIJING, May 27 (Xinhua) -- Chinese President Xi Jinping has called for coordinated functioning of the market and government in resource allocation to promote sustainable economic and social development.
Calling the relationship between the government and market the core issue in economic reforms during a collective study on Monday, Xi stressed that the roles of the two are not contradictory and should not be pitted against each other.
To give the market a more prominent role, China has pledged to deepen economic reform to ensure the market plays a "decisive" role, instead of the previous "basic" role, and allow government to play a "better" role in allocating resources during a key reform meeting last year.
Xi stressed that the decisive role of the market cannot replace or negate the role of the government, and vice versa.
China to better handle relations between government, market: Premier Li
BEIJING, March 13 (Xinhua) -- Premier Li Keqiang said Thursday that the Chinese government will better handle the relationship between the government and the market, so as to add new impetus to the Chinese economy and boost the creativity and dynamism from all sides.
Last year, the Chinese central government took streamlining administration and delegating power to lower-level governments as the top priority on the reform agenda, Li told a press conference after the conclusion of the annual legislative session. Full story
Key reform decision settles market-government relationship: Xi
BEIJING, Nov. 15 (Xinhua) -- The Communist Party of China (CPC) has to acknowledge the market's decisive role in allocating resources as it is proven to be the most effective, said President Xi Jinping when explaining a key document about reforms.
China will deepen its economic reform to ensure that the market will play a "decisive" role in allocating resources, according to a decision on major issues concerning comprehensively deepening reforms, approved by the Third Plenary Session of the 18th CPC Central Committee on Nov. 12. Full story