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The latest issue of Xinhua's Outlook magazine publishes an analysis on the recent Third Plenary Session of the Sixteenth Central Committee of the Communist Party of China (CPC), calling the conference a new milestone in China's history, as it has drawn up the roadmap for the country's development in the coming decades.

By comparing the conference to the historic Third Plenary Session of the Eleventh CPC Central Committee in the late 1978, the article terms it a "New Third Plenary Session".

The historic conference was featured with an unprecedented report to the Central Committee by the Political Bureau, which is deemed a big step forward for democracy within the Party; a resolution by the Central Committee calling for improving the socialist market economy; and a proposal by the Central Committee to amend the Constitution, so as to keep pace with the changes of the times.

According to the magazine, after studying the essence of the " New Third Plenary Session" some Chinese economists are trying to forecast the trends of China's future development as follows"-- The current government reform is at its decisive stage to alter the functions, in order to improve the government's roles on the management of social and public services, while reducing its micro-economic powers.

- The public will have a bigger say on their own affairs and more non-government organizations will be set up in both urban and rural areas.

-- Cultural and ethic progress will be made, to help citizens increase their capabilities of employment, innovation and developing their own careers.

-- The state sector will be developed on new premises, focusing on the establishment of a modern corporate system for state-owned enterprises.

-- The private sector will be further developed and protected by law, and all laws and policies restricting the development of private economy will be abolished.

-- The reform of the financial industry will be continued to minimize financial risks, while the private sector will be encouraged to participate in the regrouping and restructuring of intermediate and small banking institutions.

-- Farmers will be helped to share in the benefits of the reforms with their urban compatriots as they will be encouraged to move into cities, be involved in production, processing and sale of farm products, and take part in manufacturing and service industries, as well.

-- People's economic rights will be further protected, so as to ensure a common prosperity of the whole people.

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