The third plenary session of 20th central committee of the Communist Party of China (CPC) scheduled to start on July 15, 2024 in Beijing to majorly focus on the issues of further comprehensively deepening reform and advancing Chinese modernization with the theme of economic transformation and ultimate prosperity for Chinese people have already gained the attention of international community.
The third plenum has been marked as the most notable event in this year’s China’s political discourse that is aimed to focus on the agenda that will drive the modern development of China in new era for building a shared future of mankind.
Since the reform and opening up policies that were adopted back in 1978, China has gained tremendous achievements in economic developments and transformations as the ranking of its economic aggregate has risen to the second in the world and per capita income has also significantly increased.
At this very important juncture of China’s development in new era, the third plenary session provides an opportunity to the Chinese policy makers and global China watchers to look back at the journey of China’s development path under the reform and opening up policies that shaped up the modern China in front of the world and became the name card of Chinese development path.
With this opportunity, the third plenary session is also a window for all to look that how China is going to modernize its economic landscape with new quality productive forces that has become the buzzword in international community just after the two sessions held in march this year.
To embrace new changes in the global economic system, China has always proactively promoted the transition from the first round of opening up to the second round of opening up and practically promoted the high level two way opening by highlighting the strategies for free trade, Belt and Road Initiative and trade service to take the initiative in domestic development and international competition.
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.
To the varying new global economic situations arising from geo political turbulences pushed up by the American and Western bloc, China has always taken the initiatives in domestic development and international competition through opening up so this this plenum is considered as the key point to speed up the open transition to ensure the leap forward towards the next stages of reforms and opening up when China is investing globally under various cooperative platforms.
The theme of reform and opening up for this session also shows that this ideology is taken as a prime and vital element for achievements of CPC and people to keep it align with the development trends of the time.
Right now, CPC is leading the significant task to govern the Chinese 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.
For achieving these targets, the third plenum have already generated very strong signals for all that the session will focus on Chinese president Xi Jinping’s vision of getting technological and scientific self-reliance, economic liberalization, social development and public welfare with improvements in the process of financial stability of the country.
Now, China being the 2nd largest economy of the world has expanded its GDP and optimized the structure step by step and has undergone the 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 the new momentum into the reforms and opening up strategy that is a shift of
the opening mode to fundamentally reflect the significant adjustments in China’s development strategy. The plenum is going to open up the bigger role of 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 modern economic system.
At this moment, it can be analyzed that the third plenum will carry forward the Chinese modernization under the leadership of 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.
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The author is editor China desk with Internews Pakistan and media fellow of China International Press and Communication Centre.
