Xi stresses market-gov't coordination
                 English.news.cn | 2014-05-27 20:53:41 | Editor: Yang Yi

BEIJING, May 27 (Xinhua) -- Chinese President Xi Jinping has called for better coordination between government work and market forces in promoting sustainable economic and social development.

Calling the relationship between government and the market the core issue in economic reform, Xi said that the roles of the two are not contradictory and should not be pitted against each other.

"China will well use both 'visible' and 'invisible' hands," he said at a collective study of the Political Bureau of the Communist Party of China Central Committee on Monday.

Although economic reform has made progress in recent decades, market vitality is still shackled by many institutional flaws.

To straighten out the relationship between the two, the president said China will continue its efforts to let market forces play a "decisive" role in allocating resources while making sure the government functions better.

The decisive role of the market cannot replace or negate the role of the government, and vice versa, according to Xi.

He said China will stick to market-oriented reform and refrain from intervening in microeconomic activities. It will forge a unified and open market, in which economic entities can compete fairly under a set of transparent rules.

In addition to loosening grips on the market, Xi said the Chinese government also needs scientific macroeconomic controls and effective governance.

To that end, it will improve macroeconomic control measures, optimize public services and enhance social justice, according to the president.

Related:

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

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