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A joint report from the World Bank and China’s Ministry of Finance -Development Research Center of the State Council (DRC) identifying and analyzing challenges looking forward to 2030 ((World Bank and DRC (2012) China 2030. Building a modern, harmonious, and creative high-income society, The World Bank and the Development Research Center of the State Council, the People’s Republic of China, Washington DC, http://www.worldbank.org/content/dam/Worldbank/document/China-2030-complete.pdf (accessed 8 November 2012). ))The report proposes six strategic directions for China’s new development strategy. First, rethinking the role of the state and the private sector to encourage increased competition in the economy. Second, encouraging innovation and adopting an open innovation system with links to global research and development networks. Third, looking to green development as a significant new growth opportunity. Fourth, promoting equality of opportunity and social protection for all. Fifth, strengthening the fiscal system and improving fiscal sustainability. Sixth, ensuring thatChina, as an international stakeholder, continues its integration with global markets.Using the 12th Five Year Plan as a starting point, and the six strategic directions as a policy framework, the report lays out a time frame for and sequencing of reforms that can take China toward its vision for 2030.&#160;