Business could win big if China follows through on its pledges to give the market a greater role in the world's second-biggest economy. The Chinese Communist Party's leaders last week issued a broad blueprint for overhaul over the next decade that calls for empowering consumers and easing Beijing's grip on key industries long controlled by the state. Its sweeping goals include easing barriers for foreign capital in some industries,...
Business could win big if China follows
through on its pledges to give the market a greater role in the world's
second-biggest economy.
The Chinese
Communist Party's leaders last week issued a broad blueprint for
overhaul over the next decade that calls for empowering consumers and
easing Beijing's grip on key industries long controlled by the state.
Its sweeping goals include easing barriers for foreign capital in some
industries, increasing the involvement of private investors in
state-dominated businesses and giving the country's vast rural
population greater access to money.
Over
the long term, one significant move—a call to ease China's one-child
policy—signals a willingness to grapple with the mounting pressures of
an aging society. Many demographers say even more dramatic moves are
needed.
But Beijing's statement
suggests that leaders want to ensure that China has a stable pool of
labor—and remains a robust growth market—for years to come.
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