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Government-Market Relationships for an Innovation-driven Development Strategy
2014-02-21
The 18th Communist Party of China Central Committee recently reached a decision at their third plenary session on some major reform issues, with emphasis on better government-market relationships, the core of key economic structural reforms, to let market play a vital role in resource allocation, with government support.
The market-oriented technological innovation mechanism for scientific and technological reforms is proposed in the decision, for deciding the direction of technological development, pricing, and innovation. This mechanism will help drive scientific and technological system reforms and an innovation-driven development strategy.
