China to Launch Comprehensive Reforms for Economic Modernisation by 2035

China's ruling Communist Party has adopted a resolution for comprehensive reforms aimed at lifting economic growth and achieving socialist modernisation by 2035. The third plenum of the 20th Central Committee re-emphasised President Xi Jinping's leadership and outlined key reform areas including national security, economic policies, and market dynamics.

China’s ruling Communist Party adopted a pivotal resolution for sweeping reforms to rejuvenate the world's second-largest economy, setting a target of socialist modernisation by 2035.

In a landmark moment for President Xi Jinping’s leadership, the third plenum of the 20th Central Committee endorsed a report presented by Xi. The committee, consisting of 364 members, convened amidst economic slowdown exacerbated by COVID-19 lockdowns and international sanctions.

Although specific reform details remain undisclosed, the resolution stresses building a high-standard socialist market economy, enhancing national security, and strengthening the Party's leadership over military affairs. The reforms aim to improve governance systems and attract investment, laying the groundwork for achieving significant economic milestones by the centenary of the People's Liberation Army in 2027.