Ten Years of National Governance:From Top-Level Design to Market-Driven Dynamics
The modernization of China's national governance system and capabilities,which is taking place during the transition of economic growth,will profoundly reshape the institutional framework for economic growth.This study uses the comprehensive deepening reforms initiated at the 18th CPC National Congress as a demar-cation point,dividing the reform and opening-up process since 1978 into two phases:The first phase primarily focused on adapting to the foundations of a market economy through economic system reforms,while the sec-ond phase aligned the comprehensive deepening reforms with national governance objectives.As China's overall institutional reform goals shift from"adapting to a socialist market economy"to"aligning with national govern-ance,"and the focus of institutional reforms transitions from market-oriented reforms to"modernizing the na-tional governance system and its capabilities",the restructuring of deep-rooted institutional parameters will profoundly impact the pace,model,and trajectory of China's economic growth.From the perspective of eco-nomic growth,the key issue to address in national institutional reforms and adjustments is how to accelerate the transmission of deep institutional changes to market participants,release the dividends of reform,and a-chieve a new stable growth rate under the decisive influence of the market in the era of national governance.This necessitates a focus on understanding the shifts in development stages and national priorities,as well as the transformations in development strategies and resource allocation methods.It is essential to evaluate the im-pact of newly established institutions on market operations and economic growth,and to modernize working methods to resolve conflicts between non-economic sectors and economic sectors,non-market logics and mar-ket logics,thereby generating new drivers for economic growth through enhanced productive forces.