Abstract
The reason that the ten‐year reform has encountered difficulties is not that there are mistakes in the overall target to develop a commodity economic system, but that the decision makers cannot understand properly the nature and structure of the commodity economic system and its market mechanism. They take it for granted that a highly efficient market mechanism will be formed if we practise “letting the enterprises make their own business operation decisions and share the profits with the government” on the basis of the original highly centralised product economic system, and they always try to combine the two incompatible systems of product economy and commodity economy. The radical reason that these two systems cannot be combined is that their ownership‐profit structures are mutually incompatible. The economic targets of the government, the enterprises, and the individual workers must be rectified.
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