BEIJING — China’s top leadership, ending a pivotal summit on Tuesday to establish overarching plans for the government in the next 10 years, revealed broad-stroke plans for governance but offered few specifics on economic reform.
At the conclusion of the four-day meeting of the country’s Communist Party Central Committee, the party released a lengthy statement of guiding principles, but few clues to actual plans for the coming years. This is the first meeting of its kind for President Xi Jinping’s leadership team.
Analysts have closely watched Xi over the past year for signals of how he will manage China’s economy going forward through potential pitfalls and certain slowdowns. The statement released Tuesday night indicates no massive changes are on the way, but more likely ongoing efforts to continue the market-oriented reforms steps China has implemented over 30 years.
The party’s plenary session, in the document released by state-run media, said China will engage in more of the same, on a “deeper” level.
It said delegates agreed that “economic structural reform is the focus point for comprehensively deepening reform,” and China will continue to adjust the relationship between government and market forces. In a related note, the document said, China will undertake land reform and adopt measures intended to help farmers and rural residents. The issue is important for a country on the brink of tipping from primarily rural residents to a majority who live in cities. RELATED STORY: China's Anticorruption Campaign to Affect Luxury Brands >>
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