360° Coverage : Communist Party plenum: Much anticipation among Chinese

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Communist Party plenum: Much anticipation among Chinese

Nov 8 2013, 6:44am CST | by IANS

Beijing, Nov 8 (IANS) As China's reform and opening up moves into its 35th year, the policy that lifted China's largely rural, impoverished economy to the world's second-largest economy has also sailed into "deep waters", leaving Chinese society and the rest of the world wondering whether and how China's reform will proceed.

Beijing, Nov 8 — As China's reform and opening up moves into its 35th year, the policy that lifted China's largely rural, impoverished economy to the world's second-largest economy has also sailed...

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49 weeks ago

Communist Party plenum: Much anticipation among Chinese

Nov 8 2013, 6:44am CST | by IANS

Beijing, Nov 8 (IANS) As China's reform and opening up moves into its 35th year, the policy that lifted China's largely rural, impoverished economy to the world's second-largest economy has also sailed into "deep waters", leaving Chinese society and the rest of the world wondering whether and how China's reform will proceed.

Beijing, Nov 8 — As China's reform and opening up moves into its 35th year, the policy that lifted China's largely rural, impoverished economy to the world's second-largest economy has also sailed into "deep waters", leaving Chinese society and the rest of the world wondering whether and how China's reform will proceed.

Chinese President Xi Jinping Nov 2 told a group of foreign members of the 21st Century Council in Beijing that China would firmly continue pushing ahead with its reform and opening up drive, Xinhua noted in an analysis piece ahead of the Third Plenary Session of the 18th Communist Party of China (CPC) Central Committee to be held Nov 9-12.

"The more developed China is, the more open it will be. It is impossible for China to shut the door that has already been opened. There will never be an end to reform and opening up," said Xi.

Xi, who is also general secretary of the CPC Central Committee, told the global think tank members that a blueprint of comprehensive reform would be put forward at the forthcoming plenary session.

Since China embarked on its reform and opening up in 1978, CPC third plenums have undertaken the same important task of enacting major economic reforms while also providing a window into the governance characteristics of the country's central leadership.

At the end of 2012, the Political Bureau of the CPC Central Committee held a group study on "unswervingly pushing forward reform and opening up", and Xi stressed that the party should improve reform policies by learning from the people and demand that achievements benefit more people in a fairer way.

The new central government, which was formed in March, has abolished or transferred 221 administrative approval items to local governments.

In July, China's central bank cancelled the floor on lending rates, and in September, the China (Shanghai) Pilot Free Trade Zone opened, providing a testing ground for the deregulation of interest rates in China.

China's gross domestic product growth accelerated to 7.8 percent in the third quarter, up from 7.5 percent in the second quarter, bringing an end to the slowing growth rates in the first half of the year.

Analysts say that, starting this year, China's institutional reform, which aims to streamline administration and decentralise power at its core, has produced more and more "dividends", playing an important role in the rebounding and upgrading of the Chinese economy.

After 35 years of reform and opening up, the once agricultural China now stands as the world's second-largest economy and top holder of foreign reserves.

With steady and rapid economic growth in the country, millions of Chinese have been lifted out of poverty. Half of its population now lives in cities, and farmers are now free from agricultural tax, which was abolished in recent years, and a social insurance system covering 1.3 billion people has come into shape.

Despite these changes, China is confronted with grave and pressing problems such as the urban-rural gap and income disparity. The country also has its hands full in improving health care, education, housing and the environment for its people.

Nonetheless, analysts say currently there is still a strong consensus on reform in China.

Qin Gang, professor with the Party School of the CPC Central Committee, said as the society is diversified and different groups expect different things from reform, it is only normal to have a reform debate.

He believes that reform must address public expectations and demands, such as narrowing the income gap, social equality, and an end to corruption through institutional changes.

Wang Huaichao with the party school said there was no disagreement on whether China needed further reform, the debate was on the sequence, degree and measures of reform.

According to another analyst, in an atmosphere of lacklustre global recovery, the performance of the Chinese economy was under the international microscope.

It is not unreasonable to contend that China's internal economic vitality will drive the world down a similar vital path.

IANS

Source: IANS

 
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11

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A Massive Chinese Property Company Just Canceled A Share Offering, And There Are Rumors The Chairman Is Missing

Oct 10 2014 9:48am CDT | Source: Business Insider

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Update
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1 week ago

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Source: Business Insider   Full article at: Business Insider
 

 
Update
9

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Dalai Lama marks Nobel anniversary as Western support wanes

Oct 4 2014 9:48pm CDT | Source: Business Insider

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Source: Business Insider   Full article at: Business Insider
 

 
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7

2 weeks ago

Hong Kong wine auction breaks single lot record

Oct 4 2014 1:20pm CDT | Source: Business Insider

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Source: Business Insider   Full article at: Business Insider
 

 
Update
5

3 weeks ago

Hong Kong protesters threaten to storm government buildings if leader doesn’t quit by Thursday

Oct 1 2014 10:24am CDT | Source: National Post

HONG KONG — Student leaders of Hong Kong’s pro-democracy protests warned that if the territory’s top official doesn’t resign by Thursday they will step up their actions, including occupying several important government buildings. By raising the stakes in the standoff, the protesters are risking another round of confrontation with police, who are unlikely to allow government buildings to be stormed. It also puts pressure on the Chinese ...
Source: National Post   Full article at: National Post
 

 
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4

3 weeks ago

Understanding China’s Hard Line on Hong Kong

Oct 1 2014 8:38am CDT | Source: Harvard Business Review

When Chinese students first took to the streets of Beijing in April 1989 — initially to mourn the death of reformist former Premier Hu Yaobang, then to protest for more democracy — nobody in the Chinese leadership seems to have been planning for it end with tanks rolling into Tiananmen Square. As Ezra P. Vogel tells it in his painfully long but hugely informative biography Deng Xiaoping and the Transformation ...
Source: Harvard Business Review   Full article at: Harvard Business Review
 

 
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3

3 weeks ago

Occupy Hong Kong protesters are locked in a technology arms race with the Chinese government

Sep 30 2014 11:12am CDT | Source: BetaNews

Thousands of protesters have flooded into the heart of central Hong Kong over recent days to demonstrate against the Beijing government's plans to phase out the semi-autonomous province's democratic elections by 2017. The campaign seeks to blockade Hong Kong's financial center, and represents the first major challenge to the rule of the new Chinese President, Xi Jinping. For anyone confused by the protests, here's a bit of background: when the UK handed ...
Source: BetaNews   Full article at: BetaNews
 

 
Update
2

3 weeks ago

Hong Kong Protesters Are Furious About A 30-Year-Old Broken Promise

Sep 29 2014 8:50am CDT | Source: Business Insider

Seemingly out of nowhere images of tens of thousands of protestors in the streets of Hong Kong confronting tear gas with umbrellas are dominating the media. 'Occupy Central' is what Hong Kongers are calling the movement to maintain democratic rule on the island. It has been able to assemble hundreds of thousands to demonstrate since July, when Beijing publicized in a white paper that it would no longer tolerate indep ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
1

3 weeks ago

Xi publishes book on governance

Sep 29 2014 3:04am CDT | Source: The Standard: China's Business Newspaper

China has published a book of President Xi Jinping's remarks, state media reported Monday, as his profile in the country's care ...
Source: The Standard: China's Business Newspaper   Full article at: The Standard: China's Business Newspaper
 

 

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