China must forge ahead with its planned economic reforms that are in line with Central government's timetable and roadmap.

In a statement, President Xi Jinping underscored the need for the country's leaders to focus on putting in place much-needed economic system reforms, and improve fundamental mechanisms that support these improvements, reported the China Daily.

Like Us on Facebook

In a meeting of the Central Leading Group for Deepening Overall Reform presided over by Xi, various policies were deliberated on and subsequently passed,  which focused on issues such as green finance, intellectual property rights, resource allocation and poverty relief.

During the gathering, the China's top policymakers committed to implement more responsive economic reforms and "significantly reduce" the government's role in the direct allocation of resources by allowing market forces to determine the course of the nation's economy.

Aside from promising to improve the protection of intellectual property rights, the leaders also vowed to encourage private investors to explore opportunities in environmentally friendly sectors.

Also during the meeting, President Xi reminded his fellow public servants to carry out their poverty relief responsibilities, and improve the implementation of land reforms rural areas.

In line with the national government efforts to improve environmental conditions, a pioneering environmental damage compensation system will introduced in Jilin, Jiangsu, Shandong, Hunan, Guizhou and Yunnan provinces and in Chongqing municipality, the statement said.

In line with the Chinese government's economic reforms, science and technology institutes are required to adopt a salary system and pay raise process that reflects the value of such work and provides motivation for scientists to improve on their work.

With regards to the government's income distribution policy, it should look into the differences between natural and social sciences, as well as variances between jobs in basic research, technological development and commercial application of technology.

On the area of health reforms, medical establishments were advised to consider successful models, while looking into other ways in which to improve the health sector.

Although the Chinese government has acknowledged that these economic reforms are gaining ground, it stressed that inspections had to be done to ensure that the said changes were making an impact on the nation as a whole.

Tagschina, China Economic Reforms, Chinese President Xi jinping