Reforms to build a xiaokang society in China

China aims to build a xiaokang (moderately prosperous) society in a comprehensive manner and eliminate extreme poverty by the end of the 13th Five-Year Plan (2016-20) period. The reforms laid out in the Suggestions of the Fifth Plenum of the 18th Communist Party of China Central Committee and Decisions of the Third Plenum provide the solid basis for achieving these objectives. The 13th Five-Year Plan, to be discussed in the coming days, will include the concrete reforms that China decides to pursue in the years ahead.

Here are some reflections on how some of those reforms could help achieve China's objectives.

First is achieving moderately rapid growth during the 13th Five-Year Plan.