China should just trust market forces to do the work, analysts say after reform policies fail to stabilise or improve slowing economy

Beijing needs to rethink its restructuring policies and let market forces play a greater role in the economy, experts said ahead of today's release of the mainland's third-quarter growth figure.

The central government's policies - which prioritised stability - had neither stabilised the economy nor achieved great progress in restructuring it, the analysts said.

Opinions within the government are mixed on whether to keep the growth target at 7 per cent for the next five years as calls have been growing for stronger reform measures and less focus on ensuring growth.

All these factors may bring about a shift in stance in China's economic policy in its upcoming 13th five-year plan and the Annual Central Economic Work Conference.

The progress of reforms, introduced two years ago, had been disappointing and the recent stock market routs were an indication of defects in the financial regulatory system, said Li Jiange, vice-chairman of Central Huijin Investment, a subsidiary of sovereign wealth fund China Investment Corporation.

Small- and medium-sized businesses are still struggling financially and many state-owned enterprises remain highly inefficient and are continuing to turn in losses.

Property tax reforms in Chongqing and Shanghai have not moved beyond trial stages and more than half of the country's provinces have yet to introduce schemes to overhaul their household registration systems.