Xi says China won’t return to planned economy

Delegates applaud as Chinese President Xi Jinping arrives for the opening session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing. - XInhua/Asian News Network

BEIJING: Chinese President Xi Jinping said he won’t let the world’s second-largest economy return to its days as a planned economy, pushing back against U.S. criticism that the nation has failed to deliver on promised reforms.

"We’ve come to the understanding that we should not ignore the blindness of the market, nor should we return to the old path of a planned economy, ” Xi told political advisers gathered in Beijing for their annual legislative sessions on Saturday, according to the official Xinhua news agency. He reiterated the government’s stance that markets should play a "decisive role” in the economy.