Country needs structural reform

To resolve deep-rooted structural problems, improve macro- control mechanisms over the economy, and create a fa-vourable environment for the development of enterprises, further structural reform is a must. For example, in the construction of a market system, market products develop faster than that...

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Bibliographic Details
Published inChina daily (North American ed.)
Main Author CHI FULIN and TANG XINLIN
Format Newspaper Article
LanguageEnglish
Published New York, N.Y China Daily 21.05.2002
EditionNorth American ed.
Subjects
Economic development
Economic reform
Financial institutions
Financial services
Labor market
Manual workers
Supervision
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Summary:To resolve deep-rooted structural problems, improve macro- control mechanisms over the economy, and create a fa-vourable environment for the development of enterprises, further structural reform is a must. For example, in the construction of a market system, market products develop faster than that of capital and labour. Non-State enterprises gear themselves towards market competition better than State-owned enterprises, and reform in macro-economic systems lags behind that of micro-economic systems. Reforms should be stepped up when it comes to ownership rights of enterprises. Under the planned economy, State ownership is the sole ownership right. Now under the market economic system, the verified ownership rights system has been formed with the State one as the core.
ISSN:0748-6154