Reform of the socialist market economy President Xi's important ideas
ANBOUND
Yang Weimin, deputy director at the Office of the Central Leading Group on Financial and Economic Affairs, said that insisting on the direction of the reform of the socialist market economy will allow the market to play a greater role, especially in deciding the allocation of resources. This is in itself one of President Xi Jinping's important ideas. The market mainly allocates resources, while the government mainly performs macro-control, conducts market supervision, public services, and environmental protection. The 19th National Congress of the Communist Party of China further clarified two points: First, improve the property rights system; second, market-based allocation of factors.