Third Plenum sets a new reform agenda

The lower target signaled greater acceptance that growth should be moderated and rebalanced. It reflected concerns about inflation, investment dependence and global uncertainty, while the...

The pilot authorized local experimentation in private finance, lending and cross-border investment. It responded to the credit needs of small firms often underserved by formal banks, while seeking...

The congress reviewed a decade of growth and called for a more balanced development path. It marked the end of the Hu-Wen era and opened a new phase of debate over inequality, consumption and...

The leadership transition closed the period covered here. China had entered global trade deeply and expanded state capacity, but faced unresolved challenges in household demand, labor rights, social...

The zone tested investment, trade, finance and administrative changes through a geographically bounded pilot. It extended China’s strategy of selective opening: market access was expanded in a...

A reform of registered-capital rules lowered some entry barriers for new firms by moving away from a universal paid-in-capital requirement. Easier registration could widen entrepreneurial access,...

The State Council called for easing hukou barriers in smaller cities and improving access to basic services for migrants. The reform addressed a labor system that depended on migrant work while...

The link allowed eligible investors to trade listed shares across the two markets under quotas and regulatory controls. It deepened cross-border finance without full capital-account liberalization,...

The 2015 Government Work Report placed “Made in China 2025” on the national agenda, aiming to upgrade manufacturing through technology and higher domestic capabilities. The strategy linked...

The State Council released a decade-long manufacturing strategy for innovation, quality and industrial upgrading. It reflected a state-led effort to move up global value chains rather than accept a...