The 20th Central Committee of the Communist Party of China concluded its fourth plenary session successfully in Beijing on October 23, marking a significant milestone and defining moment in China’s ongoing evolution of governance and global engagement, and carrying the Chinese modernization forward.

The Plenum, deliberated and adopted the recommendations for the 15th Five-Year Plan to be presented to the National People’s Congress Session coming March, and produced a Communiqué identifying key targets and priority areas for reforms and opening up, outlining the goals of building a socialist market economy over the next five years, and calling for further deepening reforms comprehensively to shape the future trajectory of China’s development. By 2035, China is set to build a high-standard socialist market economy in all respects, further improve the system of socialism with Chinese characteristics, generally modernize the system and capacity for governance, and basically achieve socialist modernization. These efforts will lay a solid foundation for building China into a great modern socialist country by the mid-century.

The Plenum conducted an in-depth analysis of the complex environment China will face during the next five-year period, where strategic opportunities exist alongside risks and challenges, while uncertainties and unforeseen factors are rising. It emphasized the instrumental role comprehensive reforms and opening up can play to navigate the complexities.

Highlighting the CPC’s mandate on and commitment to strengthening socialism with Chinese characteristics, the Plenum pointed out that the Chinese economy is on solid foundations, demonstrating advantages in many areas, strong resilience, and great potential. It aimed to push ahead with all-round economic reforms, enhance democratic governance, foster a strong socialist culture, build a strong military, improve people’s livelihoods and advance its global outreach.

The Plenum set major objectives for........

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