China pledges further reforms as Third Plenum concludes

The Chinese government will implement a series of reforms before the 80th anniversary of the founding of the People’s Republic of China in 2029 as part of its efforts to further modernize the country. solve This was published at the closing ceremony of the Third Plenary Session of the 20th Central Committee of the Communist Party of China.

The closed-door meeting was held in Beijing from July 15 to 18. Attend It is composed of 199 senior government officials including President Xi Jinping, 165 alternate members and a number of academic representatives attending the meeting.

Discussions on China’s economic policies were a top priority for delegates, especially given the various economic problems China has faced in recent years, including a sluggish real estate market, Western trade restrictions and youth unemployment.

While the specific content of the reforms has not been revealed, the resolution shows that the authorities want to strike a better balance between national security and economic growth. The resolution said China must “ensure that high-quality development and a higher level of security complement each other and effectively safeguard the country’s long-term stability and security.”

[See more: Here’s what could happen at China’s third plenum]

The central government also pointed out that it will strive to effectively implement macro policies, expand domestic market demand, further promote eco-friendly development, and explore new ways of foreign trade development.

The communiqué pointed out that “by 2035, a high-level socialist market economy will be fully built, the modernization of the national governance system and governance capabilities will be basically realized, and socialist modernization will be basically realized.”

In addition to economic issues, the Third Plenum formally accepted the resignation of former Foreign Minister Qin Gang from the Central Committee. The 58-year-old has been missing since June 2023, sparking intense speculation about his fate, although he remains a member of the Communist Party of China and is referred to as a “comrade” in the resolution.

In contrast, several former military officers suspected of corruption, such as Li Shangfu and Li Yuchao, have been officially expelled from the Communist Party of China.