China's 2035 Vision: Elevating Market Efficiency and Fairness

China is set to bolster market mechanisms, striving to create a fairer and more dynamic market environment. The aim is to enhance the efficiency of resource allocation, according to a communique released after a high-level meeting.

The country plans to completely establish a high-level socialist market economic system by 2035. This ambitious target was highlighted in a communique from the third plenum of the ruling Communist Party, as reported by the Xinhua news agency.

In line with this vision, China will intensify reforms in several critical areas, including the fiscal and tax system, financial system, and land system, according to the communique.

(With inputs from agencies.)