CPC plenum set to boost China's economic transformation - 2024-07-22
Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. The third plenary session of the 20th Communist Party of China (CPC) Central Committee is currently underway from last Monday to last Thursday in Beijing .
The session’s main focus further comprehensively deepening reform and advancing Chinese modernization with the theme of economic transformation and ultimate prosperity for Chinese people has already gained the attention of the international community.
Since the reform and opening-up policy launched back in 1978, China has made tremendous achievements in economic developments and transformations as the ranking of its economic aggregate has risen to second in the world, and per capita income has also significantly increased.
At this very important juncture of China’s development in the new era, the third plenary session provides an opportunity for Chinese policymakers and global China watchers to look back at the journey of China’s development path under the reform and opening-up policy that shaped modern China and became the name card of Chinese development path.
With this opportunity, the third plenary session is also a window for all to look at how China is going to modernize its economic landscape with new quality productive forces that have become the buzzword in the international community after the two sessions held in March this year.
In all these years, China has been applying the reform as the basic state policy for learning, absorption and reference as well as response to any of the opening-up challenges.
Now, the CPC is leading the significant task of governing the nation in a well-integrated effort for the realization of national rejuvenation on the path of building China into more modernized socialist country in all fields of life.
China, the second-largest economy of the world, has expanded its GDP, optimized its structure step by step, and has undergone numerous changes in comparative advantages of the opening-up. With this third plenum, the economic modernization of China under the banner of new quality productive forces is set to inject new momentum into the reforms and opening-up strategy, which is a shift in the opening mode to fundamentally reflect the significant adjustments in China’s development strategy. The plenum is going to open up a bigger role for China in the global economic re-balance and governance as further comprehensively deepening reform takes place.
With the continuous developments of reforms and opening-up, China is aiming to promote synchronous development of new informatization, industrialization, agricultural modernization, urbanization and pace up the creation of a modern economic system.
At this moment, it can be said that the third plenum will carry forward the Chinese modernization under the leadership of the CPC by adhering to the people-centered philosophy of development and the path of reforms and opening-up will always be a key in achieving the new goals of prosperity with Chinese characteristics under the new development patterns.
Reforms and opening-up policies adopted by the Chinese nation have shown to the global community that socialism with Chinese characteristics is the only way forward for the country and the path of opening-up will be expanded more in the future for meeting the trends of time.
The author is Muhammad Zamir Assadi, editor China Desk with Internews Pakistan and media fellow of China International Press and Communication Centre.
Source: China Daily
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