Market Institutions Nearing Maturity, 2001–2011

The 16th Party Congress held in 2002 put forward to build a sound socialist market economy system and a more dynamic and open economic system in the first two decades of this century. In order to implement the spirit of the 16th Party Congress, the Third Plenary Session of the 16th Party Central Committee held in 2003 adopted the “Decision on Several Issues Concerning Improving the Socialist Market Economy”, which set out the objectives, tasks, guiding ideology and principles for the improvement of the socialist market economy system and made systematic provisions on various major aspects of the reform. These initiatives guided the historical process of economic reform during the period of 2001–2011.