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the third plenary session of the 20th cpc central committee made comprehensive arrangements for further deepening reform and identified more than 300 major reform measures. just over a month later, the sixth meeting of the central committee for deepening reform was held, sending a strong signal of implementing the measures and achieving real results.

the meeting of the deep reform commission pointed out that it is necessary to optimize the mechanism for promoting and implementing reforms and strengthen the overall coordination of major issues. all leading and participating units should dare to take responsibility, work hard, strengthen the research and demonstration of major reforms, and formulate reform organization and implementation plans. it is necessary to strengthen reform supervision, evaluation and effectiveness, inspections and inspections, and test reforms with actual results and people's satisfaction.

the meeting stressed that we must identify the strategic priorities and priorities of reform, and rationally arrange the sequence, rhythm and timing of reform measures. we must more closely integrate reform with economic and social development, and accelerate the implementation of landmark reform measures. we must strengthen the integration of reform systems, enhance the consistency of reform policy orientations, proactively assess the impact on economic and social development, and form a joint force for reform and development.

in recent times, the top leaders of the national development and reform commission, the ministry of finance, the state-owned assets supervision and administration commission, the ministry of industry and information technology and other departments have spoken out intensively, making detailed interpretations and specific arrangements on key areas such as deepening economic system reform, fiscal and taxation reform, and state-owned assets and state-owned enterprise reform, and the roadmap for deepening reform has become clearer.

adhere to the economic system reform as the driving force

deepening economic system reform remains the focus of further deepening reform in an all-round way. the "decision of the cpc central committee on further deepening reform in an all-round way and promoting modernization with chinese characteristics" (hereinafter referred to as the "decision"), which was reviewed and adopted at the third plenary session of the 20th cpc central committee, insists on taking economic system reform as the driving force and comprehensively deploying reforms in all areas and aspects.

in terms of structural layout, the "decision" arranges six parts to deploy economic system reform, which is the most important part, including building a high-level socialist market economic system, improving the system and mechanism to promote high-quality economic development, and improving the macroeconomic governance system. it covers important aspects and major issues in building a new development pattern and promoting high-quality development.

how to understand the traction of economic system reform and how to implement the specific tasks of economic system reform? zheng zhajie, director of the national development and reform commission, said in an interview with xinhua news agency recently that it is necessary to deploy reforms in all aspects around the first priority of development, and to focus on the key points to lead the whole. holding the "bull's nose" of economic system reform can effectively promote the resolution of deep-seated contradictions in other fields, and create conditions and provide impetus for comprehensively deepening reform. as the reform touches on more conflicts of interest and deep-seated institutional and mechanism problems, further deepening economic system reform also urgently needs to coordinate the promotion of reforms in other fields such as politics, culture, society, and ecological civilization, so as to achieve mutual promotion and mutual support among reforms in various fields.

accelerating the construction of a high-standard market system is a major reform task. the decision deploys the construction of a high-level socialist market economic system to make the market mechanism more "effective", improves the macroeconomic governance system to promote the government to be more "effective", and achieves both "letting go" and "controlling" through the coordinated efforts of "two hands".

"the key to building a high-level socialist market economic system is to properly handle the relationship between the government and the market." zheng zhajie said that we should give full play to the decisive role of the market in resource allocation, let the government make precise efforts to make up for market failures, make the market's "invisible hand" fully exerted, and the government's "visible hand" do good things. in the specific work, we should achieve three "further": further enhance the endogenous driving force and innovative vitality of various ownership economies, further smooth the circulation of the national economy, and further improve the basic system of the market economy.

scientific macro-control and effective government governance are the inherent requirements for leveraging the advantages of the socialist market economy system. zheng zhajie said that it is necessary to further improve the institutional system of macro-control, give full play to the strategic guiding role of the national development plan, and enhance the consistency of macro-policy orientation. from the perspective of the work of the national development and reform commission, the focus is on strengthening planning guidance, strengthening policy coordination, and promoting regional coordinated development.

wang yiming, vice president of the china center for international economic exchanges, analyzed that the core issue of economic system reform is to properly handle the relationship between the government and the market. to better play the role of the government is not to weaken or replace the role of the market, but to make up for market failures, mainly to maintain macroeconomic stability, strengthen and optimize public services, ensure fair competition, strengthen market supervision, maintain market order, promote sustainable development, and promote common prosperity.

finance is the foundation and important pillar of national governance. the third plenary session of the 18th cpc central committee made important arrangements to deepen the reform of the fiscal and taxation system, including improving the budget system, improving the taxation system, and improving the relationship between the central and local governments.

in terms of improving the budget system, minister of finance lan foan recently stated that we should vigorously promote scientific financial management and improve the level of systematization, refinement, standardization and legalization. we should strengthen the overall planning of financial resources in terms of revenue, deepen the reform of zero-based budget in terms of expenditure, and highlight the performance orientation in management. we should implement the requirements of party and government organs to live a tight life without compromise, strengthen the financial support for major national strategic tasks and basic people's livelihood, and be "small money is stingy, big money is generous", and use precious financial funds in key areas of development and urgent needs of people's livelihood.

in terms of improving the tax system, lan fuan revealed that the tax system that is compatible with the new business model will be studied. the principle of statutory taxation will be fully implemented, the support mechanism for key areas and key links will be improved, and the construction of a modern industrial system will be accelerated. the direct tax system will be improved, the individual tax system will be improved, and the function of regulating income distribution will be better played.

lan fuan believes that improving the fiscal relationship between the central and local governments, increasing local financial autonomy, and better mobilizing the two initiatives should focus on four aspects: first, expanding financial resources, second, strengthening incentives, third, managing debts well, and fourth, optimizing administrative powers.

"reform is about being pragmatic and implementing it; whether it is implemented properly determines the effectiveness of the reform." lan fuan said that the overall plan for deepening the reform of the fiscal and taxation system will be studied as soon as possible. in line with the decision-making and deployment of the third plenary session of the 18th cpc central committee on the reform of the fiscal and taxation system, a scientific reform task list, timetable and priority sequence will be formulated to steadily promote the reform of the fiscal and taxation system in stages and steps.

feng qiaobin, deputy director of the macroeconomic research department of the development research center of the state council, analyzed to the first financial daily that fiscal and taxation reform is the "vanguard" of comprehensively deepening reform. reform must first serve the overall economic and social situation of the country, and then solve fiscal problems. a major highlight of this fiscal and taxation reform is to solve local fiscal difficulties. to this end, a number of revenue-increasing measures have been introduced. in addition to expanding local tax sources, more importantly, it is to expand local tax power and non-tax revenue management authority. it is recommended to form an executable fiscal and taxation system reform plan with a timetable and roadmap as soon as possible, give details and quantification to relevant reforms, and give the society a stable expectation as soon as possible.

deepen the reform of state-owned assets and state-owned enterprises

the "decision" has made detailed arrangements for deepening the reform of state-owned assets and state-owned enterprises, involving "optimization of the layout and structural adjustment of the state-owned economy", "functional positioning of different types of state-owned enterprises", "institutional arrangements for promoting original innovation", "reform of state-owned capital investment and operation companies", and "classification assessment and evaluation system for state-owned enterprises".

zhang yuzhuo, director of the state-owned assets supervision and administration commission of the state council, said that the "decision" incorporates the deepening of state-owned assets and state-owned enterprise reforms into the strategic overall plan of comprehensively deepening reforms, makes systematic arrangements, and clarifies the direction, pace and focus of our work in deepening reforms on the new journey.

promoting the optimization of the layout and structural adjustment of the state-owned economy is an inherent requirement for strengthening, improving and expanding state-owned capital and state-owned enterprises, and is also an important way to enhance the overall functions and role of the state-owned economy.

zhang yuzhuo said that the overall consideration is to focus on developing and strengthening the real economy, combine the in-depth implementation of the "14th five-year plan" and the planning and implementation of the "15th five-year plan", promote the strategic restructuring, professional integration and forward-looking layout of the state-owned economy in a market-oriented manner, and coordinate the allocation of state-owned capital on a larger scale, deeper level and wider field, and vigorously promote the "three concentrations", namely, concentrate on important industries and key areas related to national security and the lifeline of the national economy, concentrate on public services, emergency capabilities, public welfare areas that are related to the national economy and people's livelihood, and concentrate on forward-looking strategic emerging industries.

li jin, chief researcher at the china enterprise research institute, analyzed to the first financial reporter that the third plenary session of the 18th cpc central committee revealed an idea that the main line of soe reform will focus on optimizing the layout and adjusting the structure of the state-owned economy. according to the time requirement of completing the main tasks before 2029, in the few years after 2024, a new trend of soe reform with the layout of the state-owned economy as the main line will be formed, which will play a strong role in promoting china's modernization process.

the decision proposes to "improve the classification assessment and evaluation system for state-owned enterprises", which is an important link and a powerful tool for improving the management and supervision system. in this regard, the state-owned assets supervision and administration commission of the state council has done a lot of exploration and issued assessment implementation plans for 19 industries. in the 2024 performance assessment of central enterprises, personalized indicators accounted for 77%.

zhang yuzhuo said that in the future, the classified assessment and evaluation system will be further improved based on the overall multi-dimensional missions, diverse industrial distribution, and diversified business segments of central enterprises. more targeted and personalized assessment indicators will be formulated to accelerate the realization of "one policy for each industry" and "one policy for each enterprise", guide enterprises to give full play to their strengths, strive to become "top students" in different tracks, and achieve higher quality and better functional development.

liu xingguo, a special senior researcher at the china enterprise confederation, told caixin that classified assessment is a basic requirement and reform direction, and strategic mission assessment and value-added accounting are two assessment methods. for public welfare state-owned enterprises, more emphasis should be placed on the assessment of their fulfillment of strategic missions; for competitive state-owned enterprises, more emphasis should be placed on the assessment of improving core competitiveness, that is, more attention should be paid to the accounting of value-added.