During the 13th Five-Year Plan period (2016-20), China's development will be powered by transformation and reforms.

While they can release the country's huge potential, China's economic transformation and upgrading

will also face risks and challenges. Under these circumstances, China needs not only macroeconomic policy adjustments, but also key breakthroughs in its structural reform and supply-side reform.

During the 13th Five-Year Plan period, therefore, promoting adjustment to a services-dominated industrial structure is a key task, and the government will push forward marketized reforms and the opening-up of the service sector.

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