New Strategic Reforms for Chinese Modernization at 3rd Plenary Session of 20th CPC
The ongoing third plenary session of the 20th Communist Party of China (CPC) Central Committee marks the initiation of a new phase of strategic reforms aimed at advancing Chinese modernization. This endeavor underscores the Party’s courage, resolve, and wisdom, as it embarks on transformative changes critical to the nation’s future.
Historical Significance and Achievements of China’s Reforms
For over four decades, China’s reform and opening-up policy has led to extraordinary economic growth and enhanced international stature, establishing a robust foundation for the nation’s rejuvenation. Despite numerous challenges, these reforms have driven significant progress, propelling China into a “deep-water zone” where more complex and demanding tasks lie ahead. The country’s reform efforts are at a crucial juncture; moving forward is imperative to avoid stagnation.
The pivotal third plenary session of the 18th CPC Central Committee in November 2013 marked a new era of reform and opening up, introducing a series of historic, systematic, and comprehensive changes. Over the past decade, China has implemented over 2,000 reform plans across various sectors, including the economy, politics, culture, society, ecological progress, Party building, and national defense. These reforms have established foundational institutional frameworks across all sectors, demonstrating unparalleled scale and intensity.
Economic Reforms and Global Impact
Economic reform has been central to China’s overall reform agenda. Major initiatives such as shortening the negative list for market entry, implementing supply-side structural reforms, and promoting high-level opening up have significantly improved the country’s market-based and law-based business environment. These reforms have positioned China’s economy as the second-largest globally, contributing significantly to global economic growth despite challenges such as the COVID-19 pandemic and external pressures.
The Chinese populace has directly benefited from these successful reforms. In 2020, after eight years of rigorous efforts, nearly 100 million rural residents were lifted out of extreme poverty, marking the first elimination of absolute poverty in China’s history. Over the past decade, a new urbanization drive has enabled over 140 million former rural residents to access vastly improved public services.
China’s reform initiatives have also generated benefits for the global community. Establishing 22 pilot free trade zones, the Hainan free trade port, the China International Import Expo, and the Belt and Road cooperation has created significant opportunities for other countries.
Challenges and the Need for Continued Reforms
Despite substantial achievements, China faces bottlenecks and challenges in achieving high-quality development. The nation’s innovation capacity requires strengthening. Addressing financial risks, securing food, energy, and industrial supply chains, and resolving issues such as insufficient effective demand, economic flow blockages, inadequate public services, and job creation pressures are imperative for China’s economic growth and modernization trajectory.
Comprehensive and continuously deepened reforms are crucial to addressing these challenges amid extensive changes domestically and internationally. These reforms provide institutional guarantees for Chinese modernization and drive stable growth in the short, medium, and long terms. Anticipated reforms focus on creating a unified domestic market, fostering new quality productive forces, and achieving significant scientific and technological breakthroughs. Urgent and practical reforms are also needed in fiscal and tax systems, finance, income distribution, and urban-rural integration.
Balanced and People-Centered Approach to Reform
Maintaining a proper balance in the pace and rhythm of reform is essential. Swift and bold reforms must be accompanied by supporting measures to mitigate risks and social disruptions. The spirit of reform and opening up has defined the Chinese people historically and continues to do so today. The CPC is committed to a correct and scientific methodology and a people-centered approach for advancing China’s reform. Drawing on rich experience and solid progress from past reforms, the CPC is confident and capable of leading the nation to new successes in future reform endeavors.
