BEIJING, March 31 (Xinhua) -- China on Monday published a guideline to improve the social credit system amid efforts to promote its high-quality development.

Now China has transformed its planned economy system into an initial socialist market economy system. As a result the regulatory function of the market has been strengthened tremendously.

A social security system, suited to China’s situation, for both rural and urban residents shall be worked out so as to promote overall economic development and ensure social stability.

Socialism is government control of a nation's economic system using taxes, tariffs and duties to control the flow of money between sellers and buyers. Need a break? Play the USA TODAY Daily ...