On November 20, Qiushi published an article explaining the goals of economic reform as proposed during the Third Session of the 18th Congress of the Communist Party.
According to Qiushi, China preliminarily established a socialist market economy in which a lot of problems remain unresolved. In particular, the relationship between the government and the market has not been ironed out. Due to many constraints, the market has, therefore, not played an effective role in allocating resources .
“To move in the direction of reform of the socialist market economy, the key is to balance well the relationship between the government and the market. The [Third] Session has established the task of deepening economic reform by enabling the market to play a vital role in resource allocation. This is a major advance for our Party, both in theory and in practice. From a ‘fundamental role’ to a ‘vital role’, this change reflects the general rule that the market determines the allocation of resources. It certainly will play an extremely important role in China’s reform and opening up, and its economic and social development.”
Source: Qiushi, November 20, 2013