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China must build and improve the mechanisms for pushing ahead high-quality development, said a statement released after the meeting.
China needs a super regulator for its present transition. And for its future development, it needs perhaps an even larger regulatory system, headed by an effective, forward-looking larger regulator. The new banking and insurance regulatory commission is expected to play this role.
China stands a good chance at leading the service economy during this highly connected era, thanks to its large population base and advanced technology, said Jiang Xiaojuan, dean of the School of Public Administration, Tsinghua University, at a summit jointly held by chinadaily.com.cn and NetEase News on Jan 5.
China will "actively resolve the pileup of local government debt risks, and effectively regulate local governments' debt financing", said the statement.
China remains the biggest private equity market of the Asia-Pacific region in 2017 as the deal value has achieved billion after a slide in 2016, as the global management consulting firm Bain & Company reported.
