China -  Chinese law firm

FAQ on new roadmap for reform in China which announced by the Third Plenum of the 18th Central Committee of the Communist Party of China (CPC) (Third Plenum)

Q1: Which important documents were issued to form the roadmap of China's future policies by Third Plenum?

A: According to the documents were issued, there are three important documents: a) The Communiqué of the Third Plenum (Communiqué).  b) The Decision of the CPC on the Major Issues relating to the Overall Deepening of Reform (Decision). c) the Explanatory Statement issued by the General Secretary of CPC and China's President Xi Jinping (Explanatory Note). These documents cover a wide spectrum of reform policies which majorly focus on economy thriving and build a more thorough market economy.


Q2: What’s the key reform policy in the economy area?

A: According to the documents released, the reforming policies concerning economy mainly fall in allowing the market to play a decisive role in the allocation of resources which means China is expecting to transform its “socialist-market economy” into something more akin to the nature of modern market economy. To achieve this goal, we will expect that less restrictions for foreign invested enterprises and private business, and a more equal, free and independent market are expecting to be built. The reform also emphasized to reducing the governmental interventions.


Q3: Are there any reforms in the political area?

A: Yes, but for China socialism is the cornerstone and the fundamental mechanics of the existing political regime will remain unchanged. The process of reforming in the political area will be slow, however according to the released documents, we still can find relevant changes eg. the safeguarding of judicial rights and independence which definitely cause a series change in the judicial system. Additionally, The Decision recommends the establishment of a general legal advisory regime and a platform whereby the public may scrutinize the legislative process and the use of authority to avoid abuse.

RSS Feeds