China maps out 300 reform measures for next five years

China has released a major political document outlining some 300 reform measures to be implemented over the next five years, as it transitions towards a more sustainable and innovation-driven growth model amid pressing economic and geopolitical headwinds. The document called for a “two-way flow of urban and rural factors”, as well as “narrowing the gap” between urban and rural areas and “deepening reform of the land system”, phrasings that NTU economist Tan Kong Yam interpreted as a hint of reforms for the hukou or household registration system. “This (would be a) major reform that could improve domestic demand and consumer spending to stimulate growth,” he said.

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