Now China has transformed its planned economy system into an initial socialist market economy system. As a result the regulatory function of the market has been strengthened tremendously.

A social security system, suited to China’s situation, for both rural and urban residents shall be worked out so as to promote overall economic development and ensure social stability.

Overnight American conservatives have gone from “socialism can’t work ... It’s ingrained in the nature of the country’s economic system: the Chinese government is very good at focusing ...