Reforms 'pivotal to growth'

OECD calls for moves on interest rates, market opening and taxation

China needs to implement major reforms to ensure a fourth decade of rapid growth, converging living standards and a greener economy, said a survey by the Organization for Economic Cooperation and Development.

The necessary reforms include deregulating interest rates, opening markets dominated by State-owned enterprises to competition, increasing the supply of building land, treating migrants to cities in an even-handed fashion, taxing carbon and deregulating energy prices.