The“Four Comprehensives”may constitute the main pillars for the next phase of the Chinese social and economic transformation.The general direction of these principles is,however,not new.It has been widely recognized that China needs ongoing reforms for more sustainable and socially inclusive growth.Otherwise,imbalances will increase,posing higher risks to the Chinese and world economy.Being principles,they are rather vague and leave much room for interpretation and adjustment.Concrete targets on the social and economic transformation have not been set.The need for reforms is urgent in many areas,and it is a challenging task to keep the balance.Development priorities Future GDP growth should become more sustainable and should not harm the environment.Eco-friendly growth can be supported if the service sector accounts for a higher share of the economy.The service sector is also less productive on average,implying that high employment can be realized even at The “Four Comprehensives ” may constitute the main pillars for the next phase of the Chinese social and economic transformation.The general direction of these principles is, however, not new. It has been widely recognized that China needsroad reforms for more sustainable and socially inclusive growth.Otherwise, imbalances will increase, posing higher risks to the Chinese and world economy.Being principles, they are rather vague and leave much room for interpretation and adjustment. Concrete targets on the social and economic transformation have not been set. The need for reforms is urgent in many areas, and it is a challenging task to keep the balance. Development priorities Future GDP growth should become more sustainable and should not harm the environment. Eco-friendly growth can be supported if the service sector accounts for a higher share of the economy. the service sector is also less productive on average, implying that high employment can be realized even at