Potential to be tapped in next plan

Meanwhile, internationally, China should unite and mobilize all possible forces to build a new international order, making full use of and improving existing global mechanisms.

Peng Sen, president of the China Society of Economic Reform, said, "Entering the 14th Five-Year Plan period, China will continue to face and handle a number of big issues such as the coordinated development of urban and rural areas, the reform of the finance sector and the capital market and the fastgrowing aging problem.

"China should focus on its own problems. That would be a wise choice to deal with worldwide complexity and challenges.

"The game between China and some big countries is not a simple zero-sum game. Our goal is to compete, cooperate and create a win-win situation."

Participants at the forum agreed such global changes meant China should be prepared to face challenges and take advantage of opportunities during the period covered by the 14th Five-Year Plan.

Gisela Farber, a professor at German University of Administrative Sciences Speyer, received applause when she introduced the better regulation program practiced in Germany to forum participants, as China's central government is making law-based governance an essential requirement and important guarantee for socialism with Chinese characteristics.

"At present, not only Germany, but also many OECD countries are paying attention to the issue of compliance cost," she said.

"The better regulation program has reduced administrative burdens by 25 percent since its introduction in 2006."