China Daily Editorial
The third plenary session of the 20th Central Committee of the Communist Party of China concluded in Beijing on Thursday, having charted a new course for the nation’s foreseeable future under the guidance of CPC Central Committee General Secretary Xi Jinping.
This pivotal gathering of the leading decision-makers of the country underscored the Party’s unwavering commitment to deepening reform and advancing Chinese modernization, and set the stage for the establishment of a prosperous, equitable and sustainable society.
The session reaffirmed the Party’s confidence in the nation’s development path. The approval of the Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization is a testament to the Party’s adaptability and forward-thinking approach to navigating the complexities of the modern world.
As the strategic foresight and determination displayed in the document indicate, the Party’s commitment to comprehensive reform and high-standard opening-up, which has been instrumental in steering China through the intricate dynamics of both global and domestic environments in the past, remains unwavering.
At the heart of the session was the recognition that China is at a critical juncture in its journey toward modernization and national rejuvenation and it needs to maintain a delicate balance between development and security, while advancing socialist democracy and the rule of law, and enhancing the welfare of the people and environmental protection.
The approach set out transcends mere economic growth. It is a holistic vision that seeks to harmonize economic development with social progress and environmental stewardship, with deepened reform the cornerstone for Chinese modernization.
It calls for the new development philosophy to steer reform that deepens supply-side structural reform, improves incentive and constraint mechanisms for promoting high-quality development, and strives to create new growth drivers and strengths. All relevant departments are thus to make all-out efforts to improve the institutions and mechanisms to foster new quality productive forces in line with local conditions.
To that end, coordinated efforts are needed to promote integrated reform of institutions and mechanisms pertaining to education, science and technology, and human resources, and improve the new system for mobilizing resources nationwide to make key technological breakthroughs, so as to boost the overall performance of China’s innovation system.
Notably, as the document indicates, the Party is clearheaded about the risks and uncertainties the country faces, and relevant departments are called on to implement various measures to prevent and defuse risks stemming from the real estate sector, local government debt and small and medium-sized financial institutions.
Looking ahead, the session outlined a visionary road map through 2035, with goals including the establishment of a high-level socialist market economy, significant advancements in governance, and the basic realization of socialist modernization. By 2029, the 80th anniversary of the People’s Republic of China, the Party aims to have accomplished the reform tasks set out in the decision, laying a solid foundation for achieving these long-term objectives. This ambitious timeline underscores the Party’s confidence that the country is heading in the right direction.
Essentially, as the session stressed, the CPC Central Committee’s authority and its centralized, unified leadership with General Secretary Xi Jinping at the core are the fundamental guarantee for the deepening of reforms. As China continues on its transformative journey, the decisions made at this plenary session will not only play a crucial role in shaping the nation’s trajectory in the years to come, but also the shaping of a more harmonious and inclusive world.
– Courtesy of China Daily
