Modernizing governance

Whether or not China can sustain its unprecedented growth miracle after decades of rapid economic expansion is largely dependent on whether the dividends from a new round of reforms can be released, says a Xinhua commentary.

China has been pushing its comprehensive reform plan into high gear since the government unveiled a 60-point reform blueprint after the third plenum of the 18th Central Committee of the Communist Party of China in November.

Most of the reform initiatives that have been carried out have followed the overall strategy of modernizing China's governing system and governing capability, which means striking a balance between efficiency and equity, as well as between the role of the government and that of the market.