On 09-12 November 2013, the Third Plenary Session of the Chinese Communist Party's 18th Central Committee, commonly referred to as the Third Plenum, met in Beijing to discuss the long-term goals of the new Chinese leadership.
The Third Plenum released a communiqué outlining a series of pledges on planned reforms, including:
• The "decisive" role of the market in the allocation of resources was highlighted in the document.
China will relax investment restrictions, accelerate the construction of free trade zones, and further
open up both coastal and inland regions.
Other plans include requiring state-owned enterprises to pay larger dividends to the government and allowing private-owned companies to play a bigger role in the economy. In addition, China will push forward the liberalisation of its interest rates and the free convertibility of the Renminbi (RMB).
• China will accelerate the development of a new agricultural management system and give farmers
stronger property rights.
• China will establish a comprehensive system designed to protect the country's ecological
environment, including improvements in land development, resource conservation, and
• China will improve its judicial system and "ensure independence and fairness in courts and
• China will create a national security council that will deal with both domestic and international