China Vows Bigger Role for Markets as Party Closes Summit

China elevated the role of markets while maintaining the state’s dominance in the nation’s economic strategy, seeking to balance finding new sources of growth with sustaining the Communist Party’s grip on power.

The nation will make markets “decisive” in allocating resources, according to yesterday’s communique from the third full meeting, or plenum, of the party’s 18th Central Committee in Beijing, which stopped short of unveiling detailed policy shifts. The state will remain “dominant” in the economy, indicating limits on reducing government involvement.