Participation in the making of international rules and use outside forces to push domestic development. If China wants comprehensive reform, it has to open up more. The opening-up under China's new normal is different from the first reform and opening-up in the 1980s. In the past, the strategy was to accept international rules, but now there should be more activity in changing and making the rules.

Promoting public-private partnerships and mixed ownership to enhance state capital cooperation with social capital; or, more precisely, the government should share the profit with social capital, which is a must under China's economic dilemma. Privatizing all Chinese state-owned enterprises is unrealistic. A more realistic way is to develop mixed ownership and public-private partnerships.

Greatly reduce the threshold to access the service sector and let market forces break the bottleneck of insufficient supply. The service sector is key to China's economy and society. It will help stabilize the economy and employment. Latest data from the National Bureau of Statistics show 1 percent of GDP growth in the service sector will generate about a million jobs, which is 500,000 jobs more than the industrial sector. The bottleneck in development of the service sector is not because demand is insufficient, but because supply is insufficient. The next step should be opening the supply side and reducing the threshold for accessing finance, education and healthcare industries.

The author is head of macroeconomics for the Minsheng Securities Research Institute. The views do not necessarily reflect those of China Daily.

( China Daily European Weekly 01/29/2016 page12)