Seventh Meeting of CPPCC Standing Committee Opens in Beijing

Seventh Meeting of CPPCC Standing Committee Opens in Beijing

Beijing, The Gulf Observer: The seventh meeting of the Standing Committee of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), China’s premier political advisory body, commenced in Beijing, centering on the development of a high-level socialist market economy system.

Wang Huning, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the CPPCC National Committee, presided over the opening session.

The meeting was also attended by Ding Xuexiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and vice premier, who delivered a comprehensive report.

Wang Huning urged national political advisors to engage in thorough consultations and provide insightful recommendations on establishing a high-level socialist market economy system. He emphasized the importance of contributing to the rejuvenation of the Chinese nation through Chinese modernization.

In his report, Ding Xuexiang underscored the need to enhance the growth of state-owned capital and enterprises, ensuring a robust environment and more opportunities for the non-public sector. He highlighted the necessity of accelerating the development of a unified national market and improving fundamental market economic systems, such as property-rights protection, market access, fair competition, and social credit. Additionally, Ding emphasized the creation of a high-standard market system.

Ding also called for leveraging the strategic guidance of national development plans and enhancing coordination between fiscal and monetary policies to sustain sound economic growth. He stressed the importance of aligning with high-standard international economic and trade rules, expanding institutional opening-up, and fostering new advantages in global economic cooperation and competition.

The political advisors reviewed reports on various topics, including the transformation and upgrading of traditional manufacturing industries, the construction of water conservancy infrastructure to boost agricultural production capacity, and the green and low-carbon transformation of industries.

The meeting, scheduled to last two and a half days, will involve group discussions on seven key topics, providing a platform for in-depth deliberation and strategic planning for the nation’s economic development.

This assembly marks a critical step in the ongoing efforts to build a high-level socialist market economy, aiming to drive China’s comprehensive modernization and reinforce its position in the global economy.