Far from the spotlight, in secretive high-level meetings and company boardrooms, Beijing is drawing up one of the country's thorniest reforms: an overhaul of China's hugely inefficient state-owned industry.
It shapes up as an eclectic mix of pilot projects and initiatives rather than a single blueprint, which makes it harder to judge their progress than, for example, regulation-driven financial liberalization.
Yet taken together, they probably mark the beginning of the biggest revamp of China's state sector since the late 1990s, when Beijing set out to shore up the nation's industry ahead of joining the World Trade Organization.