BEIJING, March 25 (Xinhua) --China has underlined the systematic thinking and innovation in deepening reforms to ensure successful transformation guided by its new development concept.
A meeting of the Central Leading Group for Deepening Overall Reform early this week demanded that the systematic thinking should be set up and the systems and mechanisms formed to better implement the innovative, coordinated, green, open and shared development model.
It stressed sustained effort to improve basic institutional rules to guarantee the establishment of a framework for deepening overall reform, with the focus of piloting reforms on institutional innovation.
One systematic change approved in the meeting will extend ecological protection compensation so as to fully cover key fields like forests, grasslands and wetlands, and important areas where development is banned or ecological zones were marked.
In another example, the central government decided to allocate 100 billion yuan (15.3 billion U.S. dollars) to help those who lose their jobs as a result of cutting of overcapacity over the next two years.
Entering a new normal of medium-high speed after decades of rapid growth, China is shifting to a quality, efficiency-oriented growth model driven by innovation and consumption and directed by the new development concept in the coming five years and beyond.
Chinahas projected a growth rate of 6.5 to 7 percent this year, striving to maintain a balance between ensuring steady growth and making structural adjustments, according to the government work report.
Supply-side structural reform, which includes cutting overcapacity, destocking and reducing corporate costs, and reform of state-owned enterprises, are among key government tasks this year.
Supply-side structural problems are deeply interrelated and need to be addressed as a whole, according to experts.
During the transformation, the Chinese government has to deal with the complexity which might be the most difficult in the world, asChinaitself is a huge inter-connected dynamic system, according to Fredmund Malik, a senior Austrian economist.
"Chinese leadership is aware of the need for systematic thinking and holistic consideration, which is the important foundation for identifying the right and effective path for its balanced development, including the economic reform," said Malik, founder and chairman of theMalikManagementCenterinSwitzerland.
The "new normal" concept needs new thinking and new instruments, he said. "In that way,Chinawill be capable of very professional and strong implementation."
The Chinese government has pledged to further streamline administration and adopt more market-oriented reforms to inject vitality to the economy.
Market-oriented reforms, institutional innovation and government reforms, are vital inChina's supply-side reforms, said Gu Qingyang, associate professor of the Lee Kuan Yew School of Public Policy at the National University of Singapore.
New results from reforms will emerge along with the modernization of governance, he said, urging clear rules in the new normal period and to deal with reluctance or impotence of a few officials to perform duties.
New thinking and theories are necessary for China to deal with the deep-rooted problems in the previous growth model and accomplish people-centered development and modern governance, said Gu.
Chinahas been promoting all-round economic, political, cultural, social, and ecological progress, aiming to finish building a moderately prosperous society in all aspects by 2020.
The annual national legislative session held earlier this month adopted the country's 13th Five-Year Plan outline, a development blueprint for the coming five years. It sets an average annual growth of above 6.5 percent from 2016-2020, laying emphasis on the innovation-driven development strategy.
"Innovative management, holistic systematic thinking and new, highly effective tools are the keys to transforming the significant strategy of the new five-year plan into reality," said Malik, who is convinced thatChinaand its leadership is capable of doing it.
The significance of the comprehensive plan lies in the concrete implementation of structural reforms and tangible improvement of people's living standards, according to Gu.
"The plan, which puts all-round innovation as a key for meeting its goals, will be a test as to whether or notChinacan avoid the middle income trap," said the scholar. Enditem
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