China is determined to quicken thereforms and gain a breakthrough in major structural reforms, according to a document adopted by a meeting of the Communist Party of China (CPC) Tuesday.

The 16th Central Committee of the CPC concluded its fifth plenary session here Tuesday and issued a communique.

According to the document, the Central Committee decided that China will enhance the reform of its administrative system, adhereto and improve its basic economic system, advance the reform of its fiscal and taxation systems, accelerate the reform of the banking system, and enhance the construction of a modern market system. The reforms aim to form a mechanism that helps to transform the mode of economic growth and promotes all-round, coordinated and sustainable development, and guarantee the implementation of the scientific concept of development.

The Central Committee reiterated that the policy of opening-up is a basic state policy of China. Since the domestic and international markets are more and more closely related, China should have a broader vision of the world, raise the level of opening-up, and transform the ways of growth for foreign trade, continue to use foreign investment effectively, and support domestic companies to go abroad and implement a mutually-beneficial and win-win opening-up strategy, the document says.

Participants of the meeting include 191 members of CPC Central Committee and 150 alternate members. The Political Bureau of the CPC Central Committee presided at the meeting.

The plenum examined and approved a proposal for formulating the 11th Five-year Guidelines for the national economic and social development.

(Xinhua News Agency October 12, 2005)