BEIJING - The Communist Party of China (CPC) has acknowledged the market's "decisive" role in allocating resources in a communique of its key session about the reform.

China will deepen its economic reform to ensure that the market will play a "decisive" role in allocating resources, according to a communique issued after the third plenary session of the 18th CPC Central Committee, which closed here Tuesday.

Market had been often defined as a "basic" role in allocating resources since the country decided to build a socialist market economy in 1992.