Public finance key to reform

Government revenue and spending will decide whether the development mode can improve people's well-being

The second decade of this century will be an important period of strategic opportunities for China's development, as it is possible that it will concentrate various deep contradictions that have emerged during the country's economic and social transformation over the past decades.

Many issues are involved in the country's bid to overhaul its long-controversial development mode and achieve its goal of comprehensively improving people's welfare. The transformation of the development mode should ensure the people have access, not only to a decent material life, but also to a healthy lifestyle, as well as equal opportunities for self-development, the acquiring of knowledge, and a sense of dignity and security. People should also be able to enjoy a pleasant living environment, including a clean environment and water, under this development mode.