Markets Should Play "Decisive Role" in Resource Allocation, Chinese Communists Agree at Third Plenum

Met over four days to discuss economic reforms, which they decided should be accelerated

China's Communist Party agreed to offer bigger role for markets in the world's second largest economy as part of the sweeping reforms outlined by party leadership during the Third Plenum meeting that concluded in Beijing on Tuesday.

The meeting agreed to deepen the country's economic reforms to ensure that markets play a "decisive role" in allocating resources, according to a communique issued after the four-day gathering of the 18th Communist Party of China (CPC) Central Committee.