China's Reform Energizes the World

In September, China announced a 1.75-trillion-yuan plan to curb air pollution in the next five years. Zhuang Jian said such efforts are in line with global trends and developments and are beneficial to neighboring countries as well.

Zhao Yumin, an analyst from the Chinese Academy of International Trade and Economic Cooperation (CAITEC), said the past three decades of reform and opening up had taught China that it should actively integrate itself into the world economy.

Zhao said the newly established China (Shanghai) Pilot Free Trade Zone (FTZ) is a key market-oriented reform, with a package of policy experiments in trade, investment, governance, and the financial and service sectors.

The CAITEC analyst said she expects the government to build a domestic market with competition and rule of law through the upcoming reform plans, while a macro-economic policy would be reinforced to guard against possible external risks.

Zhang Liqun also affirmed the significance of the Shanghai Pilot FTZ, anticipating that reform measures in the zone could exert influence on a broader scale and bring China's economic system up to international standards.

"As China connects with the world in greater depth, more contributions can be expected," Zhang said.

In one of the latest highlights of the government's administrative reform, the State Council decided last week to streamline the corporate registration system to ease market access and mobilize social resources, which analysts believe is a concrete step in improving China's business climate.