Many of the core concepts for the country's next round of economic reform have already been touched upon by Chinese leaders.

Xi Jinping became General Secretary of the Communist Party of China in November 2012, while Li Keqiang was appointed the Premier of the State Council (the nation's cabinet) in March 2013.

The following are excerpts from their recent public speeches:

On the China Dream

"The Chinese people, living in our great motherland and in these great times, enjoy together the opportunities to live a meaningful life, the opportunities to realize their dreams and the opportunities of growing and progressing with the motherland. The China Dream is essentially the people's dream."

Xi Jinping, in a speech to the National People's Congress on March 17, 2013.

On reform

"Reform is a long-term, formidable and heavy cause and it must be carried out by one generation after another. Reforms must adhere to the direction of the socialist market economy and stick to the basic State policy of reform and opening-up. We must lose no time in deepening reforms in key areas with greater political courage and wisdom in the direction settled by the 18th National Congress of the CPC."

Xi Jinping, in the second collective learning session of the CPC on Dec 31, 2012.

On "deep-water zone"

"China has waded into a zone of deep waters in its reform. We will carry out comprehensive, deep reform, to overcome the high barriers. We will tackle structural tasks, along with the tasks of fiscal, financial, pricing and enterprise reforms."

Li Keqiang, during the 21st Century Council Conference in Beijing on Nov 1, 2013.

On policymakers' responsibilities

"We ask ourselves to be responsible for both China and the world in making our economic policies. In the first half of this year, our GDP grew 7.6 percent (from last year). At the same time, we know some local governments have incurred heavy debts and some industries are struggling with excess capacity. But I wouldn't say they are out of control. And we are tackling these problems right now."

Xi Jinping, during a G20 summit on Sept 5, 2013.

On the emancipation of minds:

"Practicing development is endless, emancipating minds is endless and reform and opening-up are endless as well. Either pausing or retrogressing is an impasse. We must stick to the right direction of reform and opening-up, have the courage to crack hard nuts, overcome the dangerous shoals. We should have the courage to not only break down the barriers of old ideas and values, but also break through the thicket of entrenched interest patterns."

Xi Jinping, during a visit to Guangdong province from Dec 7 to 11, 2012

On urbanization

"China's tasks of industrialization and urbanization are far from accomplished. Opportunities and potential remain huge in regional development, allowing us to inject new vitality into our system through continuing reform."

Li Keqiang, at the 7th Summer Davos Forum on Sept 11, 2013.

On rural reform

"Reform is the way to go to raise the level of farm modernization. What is particularly important, if not most important, is to have new types of farmers and organizations capable of modern farm production and management."

Li Keqiang, during a visit to Heilongjiang on Nov 5, 2013.

On service industries

"China's agriculture will be modernized, industry be equipped with information technology and new jobs will mainly come from the service sector The government will improve its rules and standards for the service industries and create a favorable environment for their development. We will open the service sector wider and experiment with the idea of free trade zones to lead the service sector's reform and opening up."

Li Keqiang, during the second Global Services Forum in Beijing on May 29, 2013.

On government reform

"The government should streamline its administration and delegate powers to society and the market, transform its functioning, improve its working style and offer better public services to the people."

Li Keqiang, during a visit to the Guangxi Zhuang autonomous region from July 8 to 10, 2013.

On synergy between government and society

"To realize the potential benefits of reform, we will expand access to the market, so as to let society do whatever it can do well and create the synergy between the government and society in improving public services."

Li Keqiang, during a State Council conference on July 31, 2013.

On small enterprises

"Jobs will be everywhere that small and micro-enterprises prevail. The government will extend greater policy-level support to them, so that they can grow in a good environment."

Li Keqiang, during a visit to Beihai city in the Guangxi Zhuang autonomous region from July 8 to 10, 2013.

On growth

"We will remain steadfast in our policy orientation, not passing up the rare opportunity for structural reform just because of some short-term index fluctuations. We will remain vigilant and ready for action, and not allow the fluctuations to become excessive."

Li Keqiang, during an informal meeting on the economic situation on July 16, 2013.

On use of resources

"We cannot, simply because we cannot afford to, copy the modernization process of developed countries. There aren't enough resources for us to go around on Earth."

Xi Jinping, during a visit to Wuhan, Hubei province, on July 22, 2013.

Compiled by Li Yang