Keep the reforms rolling

Those producing immediate effects should be carried out first, with a progressive approach adopted for the more difficult

China's economy has entered a new development stage that requires the central government to make significant strategic policies to address the severe external and internal challenges the country faces. This means comprehensively deepening reform to re-energize the economy and avoid falling into the middle-income trap.

The Decisions on Major Issues Concerning Comprehensively Deepening Reforms released after the Third Plenum of the 18th Central Committee of the Communist Party of China shows there will be a new round of reforms, the most significant of which will be granting the market a "decisive" role in the distribution of resources and reform of the economic system.