BEIJING - China will accelerate reform in nine areas next year including the capital market and market access for private banks, according to the Central Economic Work Conference concluded on Thursday.

Reform will be speeded up in administrative approval, investment, pricing, monopolies, franchising, government purchased services, and outbound investment. This takes into consideration both the need for the next year and the long-term interests, according to a statement released after the conference.

More effort will be made to transform the reform into growth, said the statement. The evaluation system for reform and general public access the reform work will also be improved.

The problems of state-owned enterprises will be adressed and efforts will be made to improve their efficiency and core competitiveness.