An influential think tank linked to China’s state council, or cabinet, has recommended creating a national social security system, changes to state-owned enterprises and land reform, according to media.
It was not known if the sweeping reforms would be discussed at a key Communist Party meeting next month, but the timing suggested they could be.
The official China News Service said a report published by the State Council’s Development Research Centre set out eight key areas for reform — finance, taxation, land, state assets, social welfare, innovation, foreign investment and governance.
The news report comes a day after remarks from Yu Zhengsheng, China’s fourth-ranked politician, that the party’s third plenum meeting, at which leaders would set out their economic agenda, would yield “unprecedented” economic and social reforms.
At the meeting, the leadership will lay out how they intend to overhaul the economy to allow domestic consumption to drive growth, shifting away from an exports- and investment-led model that Beijing says has run its course after three decades of expansion.
The blueprint called for an equal valuation of urban and rural land, saying the current structure lead to an unequal distribution of gains. It also sought to end state-owned monopolies in the rail, oil and gas, and electricity industries, noting that the distortions the monopolies were creating “were becoming obvious”.