Opinion | Chinese reforms can and should begin now

Policymakers wrapped up the Central Economic Work Conference this month, pledging to take measures to ensure stable growth well into the future - a departure from previous years' meetings which tended to focus on the tasks in the year ahead. They also reiterated their pledge to continue socialist market reforms with a systematic approach that will demand even greater political courage. Importantly, the leaders promised - for the first time - a clear road map and timetable for each area of reform.

These pledges are welcome. For years, empty talk about reform has raised doubts about the government's sincerity and capability and dented its credibility. While the economy was growing rapidly, reform seemed less urgent. But now the nation faces rising social conflict, environmental costs and concerns about unbalanced and unsustainable economic growth, due mainly to institutional constraints.

Excessive government intervention has distorted prices and skewed market behaviour. The inclination to pump financial resources in state-owned enterprises stifled innovative private enterprises and rendered many of them unprofitable. China's economy is struggling to create a new powerhouse for growth.

Promising the people better communication on reform can surely rekindle public trust in their government. Major structural reforms are widely expected to be tabled at the third plenum of the 18th Central Committee next autumn.

Embarking on a top-level overhaul of planning for reform does not mean we should do nothing now. While major reforms require comprehensive planning, basic reforms - those that have been agreed upon and whose directions are set - can be implemented by the party's rank and file.

At the same time, policies and measures that are obviously not in line with the country's economic approach should be scrapped. A clear direction must be set out to change the overall environment and momentum for reform.