The 20th Central Committee of the Communist Party of China (CPC) has concluded its third plenary session in Beijing, adopting a landmark resolution aimed at deepening comprehensive reforms to advance China’s modernization. The four-day session, held from Monday to Thursday, was presided over by the Political Bureau of the CPC Central Committee, with General Secretary Xi Jinping delivering significant addresses.
The resolution outlines ambitious objectives to improve and develop the system of socialism with Chinese characteristics and modernize China’s governance system and capacity. According to the communique released on Thursday, the Party aims to build a high-standard socialist market economy by 2035, further enhancing the efficiency and productivity of resource allocation.
“By 2035, we will have finished building a high-standard socialist market economy in all respects, further improved the system of socialism with Chinese characteristics, generally modernized our system and capacity for governance, and basically realized socialist modernization,” the communique stated.
The reform tasks set forth are to be completed by 2029, coinciding with the 80th anniversary of the founding of the People’s Republic of China. These reforms are expected to lay a solid foundation for building China into a great modern socialist country in all respects by the middle of this century.
Key Areas of Reform
The resolution emphasizes several key areas, including promoting high-quality development, fostering innovation, improving macroeconomic governance, and deepening reforms in education, science and technology, and talent development.
In the economic sphere, the Party intends to leverage the role of the market more effectively, foster a fair and dynamic market environment, and ensure efficient resource allocation. Restrictions on the market will be lifted while maintaining effective regulation to uphold market order and address market failures.
The resolution also stresses the importance of advancing high-quality development through supply-side structural reforms, creating new drivers for growth, and integrating the real economy with the digital economy.
Strengthening National Security and Cultural Confidence
National security is highlighted as a critical component, with plans to improve institutions and mechanisms to safeguard stability and security over the long term. The Party also underscores the need to boost cultural confidence by promoting advanced socialist culture, revolutionary culture, and fine traditional Chinese culture.
Commitment to Peaceful Development
The communique reaffirms China’s commitment to peaceful development and an independent foreign policy of peace, emphasizing the country’s dedication to promoting a human community with a shared future.
Looking Ahead
The Central Committee called for firm commitment to accomplishing the goals for this year’s economic and social development, ensuring both development and security. Measures will be implemented to prevent and defuse risks in key areas such as real estate, local government debt, and small and medium financial institutions.
The session concluded with important personnel decisions, accepting the resignation of Comrade Qin Gang from the Central Committee and confirming the expulsion of Li Shangfu, Li Yuchao, and Sun Jinming from the Party.
With these comprehensive reforms, China is setting a clear roadmap toward modernization, aiming to enhance governance capacity and build a solid foundation for the nation’s future as a great modern socialist country.
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20th CPC Central Committee's 3rd plenary session adopts resolution
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