A new historic starting point

The prominent problem at present is the government's excessive administrative intervention in microeconomic activities. [...]a more rational relationship between the government and market is needed to allow the market to fulfill its basic role in allocating resources. In this regard, we need to...

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Bibliographic Details
Published inChina daily (North American ed.)
Main Author Chi Fulin
Format Newspaper Article
LanguageEnglish
Published New York, N.Y China Daily 13.11.2013
EditionUS ed.
Subjects
Income distribution
Low income groups
Market economies
Reforms
China
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Summary:The prominent problem at present is the government's excessive administrative intervention in microeconomic activities. [...]a more rational relationship between the government and market is needed to allow the market to fulfill its basic role in allocating resources. In this regard, we need to deepen price reform with the pricing of resources as the focus, promote financial reform with the marketization of interest rates and exchange rates as the focus, expand the space for social capital investment with promoting reform of monopoly industries as the focus, and adjust and optimize the allocation of State-owned capital with the focus on public welfare.