Market-oriented allocation of production factors to open a new path for China's high-quality development: expert

The year 2023 marks the 45th anniversary of China's reform and opening-up and the 40th anniversary of the founding of the China Society of Economic Reform. Peng Sen, president of the China Society of Economic Reform, said in an interview.

In recent years, China has stepped up the pace of comprehensive pilot reforms in some regions, among which the market-oriented allocation of factors is an essential battle in China's market-oriented reform, Peng added.　

According to a plan to pilot comprehensive reforms of market-based allocation of factors of production promulgated by the General Office of the State Council, the pilot work will achieve phased results by 2023 and strive to achieve important breakthroughs in the critical links of market-oriented allocation of land, labor, capital, and technology.

Peng Sen said this would open a new path for China's high-quality development.