Do everything possible to create more jobs and improve the people's
In light of the new trends in the economy, science and technology of
the world and the requirements of our national economic development in
the new period, we should undertake the following main tasks for economic
development and reform in the first two decades of this century: to improve
the socialist market economy, promote strategic adjustment of the economic
structure, basically accomplish industrialization, energetically apply
IT, accelerate modernization, maintain a sustained, rapid and sound development
of the national economy and steadily uplift the people's living standards.
Stick to and improve the basic economic system and deepen the reform of
the state property management system. In line with the requirements of
releasing and developing the productive forces, we must uphold and improve
the basic economic system, with public ownership playing a dominant role
and diverse forms of ownership developing side by side.
Public economy includes not only the state-owned economy and collectively
owned economy, but also the state-owned and collective ownership in the
mixed ownership economy. The dominant position of public ownership mainly
lies in the following points: public assets take the superiority in the
total social assets; and the state-owned economy controls the lifeline
of national economy and plays a leading role in economic development.
Collective ownership economy is an important component of public economy.
The collective sector may embody the principle of common prosperity, broadly
absorb the dispersed social capital, relieve the social pressure and increase
the common accumulation and state taxation.
It is a must to establish a sound system of management, supervision and
operation for state assets, and financial and foreign exchange control
in order to effectively maintain and increase the value and prevent losses
of state assets. It is also necessary to fully exert the leading role
of the People's Bank of China in the financial system. The People's Bank
of China is China's central bank and is responsible for the establishment
and implementation of the national financial policies, and adjusts the
currency circulation and credit. The People's Bank of China also exercises
supervision and management on the whole financial activities. To expand
the functions of the state-owned commercial banks and the national policy
banks in the financial fields and develop non-bank financial institution
and perfect social financing channel is also very important.
To perfect the foreign exchange administration of capital accounts and
boost with order Renminbi convertibility under capital accounts; to ameliorate
the formation system of Renminbi exchange rate and to enhance the supervision
and management on the foreign exchange business of the financial institutions
are necessary measures.
China's market economic system is an open economy. After more than 20
years' reform and opening up, an all-dimensional, multi-layered and wide-ranging
opening pattern has been initially formed. The opening regions including
special economic zones, national economic development zones and high-tech
parks, etc. have been established, which will promote the development
of national and regional economy.