Four Suggestions on Establishing a Legal Environment for a Speedy Transformation of the Economic Development Model Gu, Xiaorong
When China’s 12th ‘Five-year Plan’ established as its main task to ‘speed up the transformation of the economic development model’, the legal system acquired a core role in this transformation. Several instruments, such as policy, economic, and administrative instruments, can transform the economic development model. However, legal instruments should be placed in an irreplaceable position among all instruments. For the next 10 to 15 years, China will shift from ‘limited open’ market to internationalized market, and the legal environment will play an increasingly important role during this process. This paper offers four suggestions for a rapid transformation of the economic development model in China.
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