The adoption of a comprehensive reform resolution emerged as the most significant outcome of the recently concluded third plenary session of the 20th Communist Party of China (CPC) Central Committee, a senior official announced on Friday.
Tang Fangyu, deputy head of the CPC Central Committee Policy Research Office, highlighted the importance of the resolution during a press conference on the guiding principles from the plenum.
“Promoting Chinese modernization faces many complex issues,” Tang noted. “It is necessary to further deepen reform comprehensively to better adapt the relations of production to the productive forces, the superstructure to the economic base, and national governance to social development.”
According to Tang, the resolution, with economic structural reform as its spearhead, comprehensively plans reforms across various fields and aspects. It introduces more than 300 important reform measures, all involving reforms at the levels of systems, mechanisms, and institutions.
Accelerating a High-Standard Market System
Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, emphasized the acceleration of building a high-standard market system as a major reform task.
“Efforts will be made to build a unified national market,” Han stated, outlining plans for developing a unified urban-rural construction land market, a nationwide integrated technology and data market, and a unified national electricity market.
The country aims to improve the market system and rules for production factors such as labor, capital, land, knowledge, technology, management, and data. “Systems underpinning the market economy will be refined,” Han added, including optimizing systems for property rights protection, information disclosure, market access, bankruptcy exit, and credit supervision.
To strengthen macroeconomic governance, China plans to improve fiscal relations between central and local governments and conduct research to align the tax system with new business models.
Enhancing People’s Well-Being
In efforts to ensure and improve the people’s well-being, China will enhance policy support for childbirth to foster a fertility-friendly society, Han said.
“We will make institutional improvements to facilitate high-quality and full employment and enhance the development of the old-age care industry,” he noted.
In promoting high-level opening up, China will expand unilateral opening to the least-developed countries and open its goods, services, capital, and labor markets to the rest of the world in an orderly way.
Improvements will also be made to relevant systems to make it more convenient for people from overseas to live, seek medical services, and make payments in China.
Advancing Education and Talent Development
Huai Jinpeng, minister of education, emphasized the importance of coordinated efforts to promote integrated reform in education, science and technology, and human resources.
Highlighting China’s remarkable progress in building the world’s largest education system, Huai said the country now boasts some 250 million people with higher education backgrounds.
“We will accelerate the development of world-class universities and preponderant disciplines and promote the commercialization of scientific research achievements,” he said.
In deepening structural scientific and technological reforms, China will strive for more breakthroughs in core technologies and strengthen the integration of technological and industrial innovation.
“We will advance institutional reforms in talent development, adopt more proactive and open talent policies, and accelerate the building of a contingent of personnel with expertise of strategic importance,” Huai added.
Upholding Rule of Law
Shen Chunyao, director of the Legislative Affairs Commission of the Standing Committee of the National People’s Congress, stated that China is committed to the integrated advancement of reform and rule of law.
“The rule of law provides an important guarantee for Chinese modernization,” Shen said. “Substantial efforts will be made to ensure that the deepening of reforms and promoting of Chinese modernization are carried out on the track of rule of law.”
Among the 303 laws currently effective in the country, 78 were enacted after the third plenary session of the 18th CPC Central Committee, including important legislation such as the Civil Code. Additionally, a total of 334 revisions have been made to 147 laws, according to Shen.
The plenum’s resolution has also put forward important tasks of legislation or law revisions in spheres including the private economy, finance, ecology, and combating cross-border corruption.
Reference(s):
Reform resolution is most important outcome of 3rd plenum: official
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