With its future uncertain amid ongoing U.S.-China confrontations, what strategy should Beijing take to aim at the sustainable development of its economy?

Reform of the market for factors of production — all the resources that businesses use to obtain what they need in order to produce goods or services — holds the key to observing where the Chinese economy is heading.

Since March 2020, the Chinese Communist Party (CCP) has issued guidelines on improving mechanisms for market-based allocation of production factors.