20th CPC Central Committee to hold 3rd plenary session in July

A decision made at a meeting of the CPC Central Committee Political Bureau on Tuesday indicated that the third plenary session of the 20th Communist Party of China (CPC) Central Committee would take place in Beijing in July.

The Political Bureau will report to the Central Committee on its work, as per the main agenda item. The main focus of the session will be on matters related to further comprehensively deepening reform and promoting Chinese modernization.

A document outlining policies and actions for consistently developing the Yangtze River Delta's high-quality integrated development was discussed at the Political Bureau meeting, along with an analysis of the state of the economy and economic activity.

The meeting was chaired by CPC Central Committee General Secretary Xi Jinping.

The gathering stated that reform and opening up are powerful tools for the Party's cause and the people to achieve significant progress in keeping up with the times.

It was agreed at the meeting that China's reform must continue in the face of challenging domestic and international circumstances, a fresh wave of economic and scientific advancements, and the growing expectations of the populace.

It also stated that further reform is necessary to maintain and enhance the socialist system with Chinese features as well as modernise China's capacity and governance structure.

The meeting noted that it is also crucial for putting the new development philosophy into practice, better adjusting to the evolution of the main contradiction facing Chinese society, making sure that everyone benefits from modernization more fully and fairly, managing significant risks and challenges, taking the strategic lead in the increasingly competitive international market, and strengthening the Marxist party.

The forum concluded that the Party as a whole ought to prioritise reform and advance it in all areas, with a particular emphasis on advancing Chinese modernization.

EPA-EFE/WU HAO EPA-EFE/WU HAO

The conference emphasised that in order to advance reform in every way, work must be done to liberate the intellect, unleash and strengthen social vitality, and liberate and develop social creative forces.

The meeting also decided that in order to provide a strong institutional guarantee and driving force for Chinese modernization, more attention should be paid to system integration, addressing priorities and achieving tangible results.

Further comprehensive reform should be spearheaded by reform of the economic system, with the advancement of social equality and justice and improving people's well-being serving as both the starting point and the ultimate goal.

The meeting noted that although the economy has had a strong start to the year, there are still obstacles to overcome, including low demand, the heavy operational pressure that businesses face, and an increasingly complex, bleak, and unpredictable foreign environment.

The conference concluded with a call for efforts to enhance trust in economic work and noted that China's economy still has a strong basis, many advantages, strong resilience, and enormous potential.

The nation should put its best foot forward in implementing a proactive fiscal and cautious monetary policy, as well as successfully putting the set macro policies into effect.

While the issuance and use of special-purpose bonds should be accelerated, ultra-long special treasury bonds should be issued early and wisely.

The meeting concluded that in order to lower the total cost of society's financing and boost support for the real economy, policy instruments including the reserve requirement ratio and interest rate must be used flexibly.

In the region, Shanghai need to take the lead, and the provinces of Jiangsu, Zhejiang, and Anhui ought to make the most of their individual advantages in order to establish robust cooperative efforts that will enable the Yangtze River Delta to continue to write new chapters in its integrated growth.

The meeting covered further topics as well.