Xi's speech underlines commitment to reform(2)

Zhou Tianyong, a professor with the Party School of the CPC Central Committee, said the new round of reform features overall mapping, which shows the practical work of the country's new leadership, especially the focus on experience from grass-roots governments and enterprises.

Xi's latest emphasis on reform came as the world's second-largest economy is still in a protracted slowdown. China's economic growth slowed to 7.5 percent in the second quarter, down from 7.7 percent during the first quarter and just in line with the annual 7.5-percent target set for 2013.

The president urged authorities to carry out comprehensive and in-depth research before drawing up any schemes of further reform. He said they must look at six areas in particular: fostering an integrated national market system; boosting up economic development vitality; improving macro-control level; boosting social development vitality; guaranteeing social fairness and justice; as well as improving the Party's art of leadership and governance capability.

According to Zhou Tianyong, Xi's remarks made it clear that China's reform will be market-oriented, rather than simply backing from central planning or development methods determined by the government.

Chinese authorities have so far refrained from initiating a massive stimulus program to lift the economy to allow leeway to proceed with structural reforms for long-term good.

Since taking office in March, China's new leaders have repeatedly pledged to upgrade the economy through deepened reforms, including delegating administrative power to lower levels and easing controls in the financial sector.

China's central bank announced on July 19 that it would lift controls on bank lending rates, in a clear signal of the government's determination to push forward market-oriented reforms.

Moreover, the central authorities delegated administrative powers to lower-level governments, which further freed the market, experts said.