The just finished key meeting of the Communist Party of China (CPC) ended with an array of new reform ideas, which puts the country at a new starting point of development for the next few years.

According to a communique issued after the Third Plenary Session of the 18th CPC Central Committee, which took place from Nov. 9 to 12, a decision on "major issues concerning comprehensively deepening reforms" was approved.

The third plenary sessions of the CPC central committee often focus on reforms. In 1978, the 11th CPC Central Committee decided to carry out the reform and opening-up policy, resulting in China's boosting economy and overall change for society as a whole.

This time around, the country is standing at a new starting point of development. Facing challenges from inside and outside of the country, the Party decided to give a bigger role to the market as it seeks comprehensive reform.

The general objective of the reforms is to improve and develop socialism with Chinese characteristics and push on with modernization of the country's governing system and capabilities, said the communique.

Government administration is from top to bottom, while governance focuses on bottom to top and the integration of all levels. The decision shows that reform will help the public to participate more.

In the meantime, the country will set up a central leading team for reform. The team will be in charge of designing reform on an overall basis, arranging and coordinating reform, pushing forward reform as a whole, and supervising the implementation of reform plans.

A dedicated institution shows the importance the top leadership has given to reforms and their sense of urgency. Furthermore, the leading team will provide an organizational guarantee for reforms, and implement reform policies more effectively.

The decision acknowledged the market's "decisive" role in allocating resources, according to the communique.

The market had been often defined as a "basic" role in allocating resources since the country decided to build a socialist market economy in 1992.

It is not only a change in wording, but more importantly, a breakthrough in China's market reform and highlighting the importance of market power.

The expression also means that the state should exert the government's role under the domination of the market, rather than exerting the market's role under the domination of the government.

The decision said promoting social equity and justice and improving people's well-being is the starting point and the objective of the deepening reform. It is another major guiding principle to address domestic problems.

The meeting decided to set up a state security committee, improving systems and strategies to ensure national security and calling for the innovation of systems to effectively prevent and end social disputes and improve public security.

This will be a major change for China when it responds to emergencies involving state security in the future. It comes after a series of security challenges at home and abroad in recent years.