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China, the People's Republic wants more capitalism

A series of reforms are coming that will change Beijing's economy over the next 10 years – More space for free trade, which will play a decisive role in the allocation of resources – Among the novelties, farmers will obtain the right to own their lands – The state will continue to have a decisive role on property

Beijing has unveiled a series of reforms aimed at changing the People's Republic's economy over the next decade. In a statement released after a closed meeting, it was announced that free trade will play an increasing role. Details are still few, but the BBC leaks something.

The so-called Third Plenum began in Beijing on Friday and concluded with a brief statement on the issues on which agreement was found.

Among the novelties, farmers will get the right to own their lands.

Communist Party leaders have said that more space will be given to markets. But state ownership will remain one of the pillars of the economy.

"The heart of the interventions is to address the relationship between government and the market, allowing the latter to play a decisive role in the allocation of resources and improving the role of government," reads the statement reported by Reuters.

The report - according to what the BBC reports - contains a long list of promises: from the plan to modernize the army to the one that encourages foreign investment in China's east coast, passing through greater control of corruption.

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