There’s hope for China’s economy, as long as planners can ‘let go’

This month marks the 75th anniversary of the founding of the People’s Republic of China. Looking back at history, China has trodden an arduous and sometimes treacherous journey over the past century to get itself out of misery and near-disintegration.

Such a jump could not have been possible without a vibrant and innovative private sector which, according to some mainland experts, provides 80 per cent of urban employment and 90 per cent of enterprises.

But the good times have reached a critical juncture before a complex interplay of policy, institutional and geopolitical factors.