In Beijing, China’s top political advisors convened on Tuesday to discuss strategies for building a high-level socialist market economy. The seventh meeting of the Standing Committee of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC) marked a significant step toward shaping the nation’s economic future.
Presided over by Wang Huning, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the CPPCC National Committee, the meeting gathered influential political advisors to delve into the economic development agenda.
Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee and vice premier, attended the session. Ding delivered a comprehensive report emphasizing the importance of strengthening both state-owned capital and enterprises, while also creating a conducive environment for the growth of the non-public sector.
“We must encourage state-owned capital and enterprises to become stronger, better, and bigger,” Ding stated. “At the same time, we need to provide a sound environment and more opportunities for the non-public sector.”
He highlighted the urgency of accelerating the development of a unified national market and improving fundamental market economic systems. These include property rights protection, market access, fair competition, and social credit mechanisms, all aimed at building a high-standard market system.
Ding also called for enhanced strategic guidance through national development plans and improved coordination between fiscal and monetary policies to promote sustained and healthy economic growth.
“We will take more initiative to align with high-standard international economic and trade rules,” he added. “By steadily expanding institutional opening-up, we can foster new advantages in global economic cooperation and competition.”
The political advisors listened to reports on various critical topics, such as the transformation and upgrading of traditional manufacturing industries, the construction of water conservancy infrastructure to boost agricultural production capacity, and the green and low-carbon transformation of industries.
Over the course of two and a half days, the advisors will engage in group discussions on seven key topics, contributing their insights and proposals. Wang Huning urged the advisors to conduct in-depth consultations and offer valuable suggestions to advance the great rejuvenation of the Chinese nation through Chinese modernization.
The meeting reflects China’s commitment to refining its economic systems and strategies, aiming to balance state-led initiatives with private sector growth and align domestic policies with international standards.
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China's political advisors meet on high-level socialist market economy
cgtn.com
