11-11-2013, 09:51 AM
The reform blueprint from China's official think-tank, the "383 plan"...
Let market work, where state cannot
At the Third Plenum of the 18th Central Committee of the Chinese Communist Party, currently under way in Beijing, President Xi Jinping is unveiling China’s reform blueprint for the next decade. Before its release, the Development Research Centre of the State Council, China’s official think-tank, presented its own reform proposal — the so-called “383 plan” — which offers a glimpse of the direction that the reforms will take.
The need for reform in China is well documented. In order to escape the so-called “middle-income trap” — when a developing economy’s growth levels off, instead of advancing to high-income status (defined in July by the World Bank as per capita income of at least US$12,616, or S$15,730) — the underlying structural problems of the country’s economy must be addressed.
And the pressure is on.
With per capita income of more than US$6,000, Chinese are becoming more demanding, insisting on safe food products, clean air, transparent government, affordable housing, quality education, social security and equal opportunities.
At the same time, international calls for China to assume the responsibilities of a major power — not only in areas like trade and investment, but also on issues like environmental protection and global governance — are growing louder.
...
The “383” is shorthand for the plan’s content. First, the proposal describes the relationships between the Chinese economy’s three main actors: Government, business and the market.
Second, it identifies eight key areas of reform: Governance, competition policy, land, finance, public finance, state assets, innovation, and liberalisation of international trade and finance.
Third, it highlights three correlated goals: Easing external pressure for domestic policy changes, building social inclusiveness through a basic social-security scheme and reducing inefficiency, inequality and corruption through major rural land reform.
...
http://www.todayonline.com/chinaindia/ch...ate-cannot
Let market work, where state cannot
At the Third Plenum of the 18th Central Committee of the Chinese Communist Party, currently under way in Beijing, President Xi Jinping is unveiling China’s reform blueprint for the next decade. Before its release, the Development Research Centre of the State Council, China’s official think-tank, presented its own reform proposal — the so-called “383 plan” — which offers a glimpse of the direction that the reforms will take.
The need for reform in China is well documented. In order to escape the so-called “middle-income trap” — when a developing economy’s growth levels off, instead of advancing to high-income status (defined in July by the World Bank as per capita income of at least US$12,616, or S$15,730) — the underlying structural problems of the country’s economy must be addressed.
And the pressure is on.
With per capita income of more than US$6,000, Chinese are becoming more demanding, insisting on safe food products, clean air, transparent government, affordable housing, quality education, social security and equal opportunities.
At the same time, international calls for China to assume the responsibilities of a major power — not only in areas like trade and investment, but also on issues like environmental protection and global governance — are growing louder.
...
The “383” is shorthand for the plan’s content. First, the proposal describes the relationships between the Chinese economy’s three main actors: Government, business and the market.
Second, it identifies eight key areas of reform: Governance, competition policy, land, finance, public finance, state assets, innovation, and liberalisation of international trade and finance.
Third, it highlights three correlated goals: Easing external pressure for domestic policy changes, building social inclusiveness through a basic social-security scheme and reducing inefficiency, inequality and corruption through major rural land reform.
...
http://www.todayonline.com/chinaindia/ch...ate-cannot