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China's Long-Term Economic Reform: Perspectives and Implications

Author

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  • Yang, Pyeong Seob

    (Korea Institute for International Economic Policy)

  • Na , Su Yeob

    (Korea Institute for International Economic Policy)

Abstract

China has recognized sustainable economic growth and harmonious social development as long-term national development strategies and has concentrated economic policies on changing the ways of economic development, economic restructuring, improvement of people's lives. In particular, at the 3rd plenary session of the 18th-term Central Committee of the Communist Party of China (CCCPC), held last November 2013, China's new leadership expressed that they would carry out extensive economic reforms in the future. This study analyzes the content and forecasts of the directions of China's economic reform implementation in the eight categories of money market, marketization, public finance, tax system, prices, state-owned enterprises, labor, hukou system (household registration system), and international economy; presentation of implications for Korea and countermeasures that should be taken.

Suggested Citation

  • Yang, Pyeong Seob & Na , Su Yeob, 2014. "China's Long-Term Economic Reform: Perspectives and Implications," World Economy Brief 14-12, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepwe:2014_012
    DOI: 10.2139/ssrn.2487716
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