Market and rule of law propel reform

The essence of reform is to transform government-spurred economic growth to market-driven growth so that resources can be allocated according to market law

Editor's note: A report compiled by a Wuhan University research group dwells on the mode of China's 40 years of reform and opening-up. Below are excerpts from the report, first published in China Economic Times on Dec 26, 2018.

The history of China's reform and opening-up is a history of eradicating the old and fostering the new, as well as a history of brave explorations and innovations. Over the past 40 years, China has not only witnessed fundamental changes at home, but also influenced global development, contributing Chinese wisdom to resolve global issues.