The third plenary session of the 20th Communist Party of China (CPC) Central Committee marked a significant milestone with the adoption of a comprehensive reform resolution, a senior official announced on Friday.
Tang Fangyu, deputy head of the CPC Central Committee Policy Research Office, emphasized the resolution's role in addressing the complexities of promoting Chinese modernization. He highlighted the need for deepening reforms to align production relations with productive forces, adjust the superstructure to the economic base, and enhance national governance in line with social development.
Market System Enhancements
Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, outlined efforts to build a high-standard market system. This includes developing a unified national market encompassing urban-rural construction land, integrated technology and data markets, and a national electricity market. Han stressed the refinement of market economy systems, focusing on property rights protection, information disclosure, market access, bankruptcy exit, and credit supervision.
Boosting People's Well-being
In a bid to enhance living standards, China plans to bolster policy support for childbirth, fostering a fertility-friendly society. Additionally, the country aims to facilitate high-quality employment, develop the old-age care industry, and expand unilateral opening up to least-developed countries. Improvements will also make it easier for overseas residents to live, seek medical services, and conduct transactions in China.
Educational Reforms
Minister of Education Huai Jinpeng announced coordinated efforts to integrate reform in education, science and technology, and human resources. With over 250 million individuals holding higher education degrees, China is set to accelerate the development of world-class universities and promote the commercialization of scientific research. Emphasis will be placed on achieving breakthroughs in core technologies and strengthening the synergy between technological and industrial innovation.
Advancing Rule of Law
Shen Chunyao, director of the Legislative Affairs Commission of the Standing Committee of the National People's Congress, reaffirmed China's commitment to integrating reform with the rule of law. Highlighting the enactment of 78 new laws and 334 revisions to existing laws since the last plenary session, Shen stressed the importance of legislation in areas such as the private economy, finance, ecology, and combating cross-border corruption.
Overall, the resolution introduces over 300 significant reform measures aimed at systemic, mechanistic, and institutional changes, positioning economic structural reform at the forefront of China's modernization efforts.
Reference(s):
Reform resolution is most important outcome of 3rd plenum: official
cgtn.com
