China policy meet signals land and price reforms

China’s top leaders late Tuesday signaled a possible end to state-mandated prices, Financial Times reported, citing a communiqué issued at the end of the Third Plenum, Beijing’s most highly anticipated political meet of the year. In a further potentially radical step, the party pledged to address the “two-tier” system of land ownership that prevents farmers from selling their land. This has long hampered them as they try to embark with their families on lives in the burgeoning cities. “Farmers should participate equally and enjoy the fruits of modernization,” the communiqué said.