Xi Steers China towards a Deeper Planned Economy

The Chinese Communist Party concluded the Third Plenary Session of its 20th Central Committee in July. Based on the communiqués released before and after the meeting, it appears that China still intends to pursue the path of reform and opening up. For example, we see phrases such as “reform will not pause, and opening up will not stop,” “the market plays a decisive role in resource allocation,” and “those with stable property have stable minds.”