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China Vows Bigger Role for Markets as Party Closes Summit

China elevated the role of markets in the nation’s economic strategy after President Xi Jinping oversaw a gathering of Communist Party leaders while stopping short for now of unveiling detailed policy shifts.

The nation will make markets “decisive” in allocating resources, according to the communique from the third full meeting, or plenum, of the party’s 18th Central Committee. At the same time, state-owned enterprises will remain “dominant,” indicating limits on rolling back government involvement.