Tapping market forces

Change of the government-dominated growth model will help sustain long-term healthy development

Today, China's transition and reform have come to a new turning point. One that calls for an urgent strategic change in the orientation of market-oriented reforms to march toward an equitable and sustainable market economy.

The key to making this change is the government-dominated growth model. The problem is that this growth pattern excessively relies on administrative forces, limiting the role of the market, pursuing expansion of the size of the economy, and ignoring equitable and sustainable development. Without changing the government dominance, it is difficult to give full play to the basic role of the market in the allocation of resources and to change the growth model, so it focuses on consumption not investment.