China unveils guideline to accelerate improving socialist market economy in new era

China on Monday issued a guideline to accelerate the improvement of its socialist market economy in the new era to build a high-level socialist market economy that is more systematic, mature and well-shaped.

China will uphold and improve the basic socialist economic system of keeping public ownership as the mainstay and allowing multiple forms of ownership to develop together, the guideline said.

The guideline stressed minimizing the government's direct allocation of market resources and direct intervention in microeconomic activities.

China will unswervingly expand opening-up, draw on the experience of other mature market economy systems and achievements of other civilizations, and accelerate efforts to align domestic systems and rules with international ones, it said.