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Xi Jinping Explained the CCP’s Central Committee’s Economic Reform Decisions

Xi Jinping, the chairman of the Central Committee of the Chinese Communist Party, wrote an article that Xinhua published on November 15, 2013. Actually, the article was Xi’s speech given at the Third Plenary session of the 18th Congress of the Chinese Communist Party that was held this month. The article further explained the CCP Central Committee’s decisions on deepening economic reform comprehensively. 

  1. The comprehensive deepening of reform will focus on economic reform only. “We should take new steps to improve the socialist market economic system.” The Party and the government should play an active role in our socialist market economic system.
  2. Adhere to the dominant position of the state ownership. While the state-owned economy plays a leading role, the mixed-ownership economy is also important. State capital, collective capital, and private capital are allowed mix together in cross-shareholdings.
  3. While maintaining the stability of the existing financial structure of the central government and local governments, improve the revenue division between the central government and local governments.
  4. Encourage larger and professional agricultural cooperative enterprises. Add farmers who have settled in cities into urban housing and social security systems
  5. Promote consultative democracy in economic and social development areas under the Party’s leadership.
  6. Abolish the reeducation through labor system [the forced labor camp system]. Punish and redress criminal acts with a better legal system.
  7. Anti-corruption [will be] under the unified leadership of the Party.
  8. Further control the Internet with the improved leadership system.
  9. A new National Security Committee, which shall be under centralized and unified leadership, will safeguard the national sovereignty, security, and development interests externally and will maintain political security and social stability internally.
  10. Set up a national natural resources asset management system.
  11. Establish a Central Leading Group, which will be in charge of deepening the economic reform comprehensively, to ensure the smooth progress of the reform.

Source: Xinhua, November 15, 2013