REAL ESTATE REGULATION TO MAINTAIN
In 2017, the property market, once deemed a major risk for the broader economy, cooled down amid tough curbs such as purchase restrictions and increased downpayment requirements as the government sought to rein in speculation.
With the market holding steady, Chinese authorities aim for a "long-term mechanism" for real estate regulation and a housing system that ensures supply through multiple sources and encourages both housing purchases and rentals.
In large and medium-sized cities, the government will step up the development of housing rental market, especially long-term leases. Meanwhile, reducing unsold housing will still be a priority for the third- and fourth-tier cities and counties.
A report from the National Academy of Economic Strategy predicted that the country's property market should remain stable in 2018 if there is no major policy shock.
SOE REFORM QUICKENS
Reforms of state-owned enterprises (SOEs) will also go into deeper waters in 2018 as the Chinese government expects them to play a bigger role in leading excess capacity cuts, keeping the debt ratio under control and driving high-quality economic development.
In 2017, up to 68.9 percent of the central SOEs were involved in mixed-ownership reforms, and authorities are reviewing plans for more to join the drive.
At the 19th National Congress of the Communist Party of China (CPC), the Chinese leadership pledged to further reforms to make SOEs "stronger, better and bigger," and turn them into "world-class, globally competitive firms."
The government will press ahead with stronger restructuring and deleveraging efforts, as well as furthering mixed-ownership experiments at more SOEs, authorities said.
DOORS OPENING WIDER
The year 2018 will mark the 40th anniversary of China's reform and opening up policy, and Chinese leaders have promised that its door to the world will only open wider.
China will increase imports and cut import tariffs on some products to promote balanced trade, according to the Central Economic Work Conference.
To give foreign firms greater opportunities in China's booming market, a negative list approach to market entry, which states sectors and businesses that are off limits to foreign investment, will be expanded nationwide in 2018.
The country will also grant more power to pilot free trade zones and explore the opening of free trade ports, according to the 19th CPC National Congress.
