Third Plenary Session of the 20th Communist Party of China Central Committee to Be Held in July

The upcoming third plenary session of the 20th Communist Party of China Central Committee, set to be held in July in Beijing, will address crucial issues related to reform and modernization in China. The session will involve a report from the Political Bureau to the Central Committee, with an emphasis on deepening reforms and pushing forward Chinese modernization efforts. The meeting chaired by Xi Jinping, the general secretary of the CPC Central Committee, highlighted the significance of continuing reform in the face of complex international and domestic situations, technological advancements, changing industrial landscapes, and evolving societal needs.

As stated in the meeting, reform and opening up are crucial components for the Party and the people to progress and stay relevant in contemporary times. The discussion underscored the importance of deepening reforms to strengthen the socialist system with Chinese characteristics, modernize governance structures, and uphold the new development philosophy. The meeting also emphasized the need for reform to address social equality, improve people's well-being, mitigate risks, and enhance China's competitive edge in the global arena.

Efforts to deepen reforms were highlighted as essential in various aspects, with a specific focus on promoting Chinese modernization across different sectors. The meeting stressed the importance of freeing up mental barriers, fostering social productivity, and enhancing social dynamism through systematic changes. It was emphasized that economic reform should take precedence, with the ultimate goal of advancing social equality, justice, and public welfare. The meeting called for tangible outcomes, system integration, and a strong institutional framework to drive Chinese modernization forward effectively.

During the meeting, the discussion touched upon the challenges facing the economy, such as fluctuating demand, operational pressures on businesses, and a complex external environment. Despite these challenges, China's economy was acknowledged to have a solid foundation, substantial advantages, resilience, and untapped potential. To navigate through economic uncertainties, the meeting proposed early execution of macro policies, proactive fiscal and monetary approaches, issuance of ultra-long special treasury bonds, and utilization of diverse policy tools to support the real economy and lower overall financing costs.

In addition to economic strategies, the meeting outlined guidelines for advancing technology, promoting new industries, empowering traditional sectors through innovation, fostering venture capital, and enhancing trade in various sectors, including services, digital commerce, and exports. Efforts to stimulate private investment, attract foreign capital, and improve trade relations were among the priorities emphasized during the meeting.