Release time:

2024-07-31

Decision of the CPC Central Committee on Further Deepening Reform in All Respects and Advancing Chinese-style Modernization (Adopted at the Third Plenary Session of the 20th CPC Central Committee on July 18, 2024) In order to implement the strategic plans adopted at the 20th National Congress of the Communist Party of China, the Third Plenary Session of the 20th CPC Central Committee deliberated on further deepening reform in all respects and advancing Chinese-style modernization, and hereby makes the following decisions. I. The Major Significance and General Requirements for Further Deepening Reform in All Respects and Advancing Chinese-style Modernization (1) The Importance and Necessity of Further Deepening Reform in All Respects. Reform and opening up is a vital tool that has enabled the Party and the people to make great strides in catching up with the times. The Third Plenary Session of the 11th CPC Central Committee was epoch-making, ushering in a new era of reform and opening up and socialist modernization. Similarly, the Third Plenary Session of the 18th CPC Central Committee was also groundbreaking, launching a new journey of comprehensively deepening reform in the new era, systematically and holistically designing and advancing reforms, and opening up an entirely new chapter in China’s reform and opening-up process. Under the leadership of the CPC Central Committee with Comrade Xi Jinping at its core, the entire Party, the armed forces, and all ethnic groups across the country have, with great historical initiative, tremendous political courage, and a strong sense of responsibility, broken free from ideological constraints, overcome entrenched vested interests, boldly ventured into uncharted waters, tackled tough challenges, and braved treacherous shoals. They have resolutely dismantled institutional and mechanistic barriers in all fields, transforming reform from localized exploration and breaking through obstacles to systematic integration and comprehensive deepening. Basic institutional frameworks in various sectors have been established, many areas have witnessed historic transformations, systemic reshaping, and holistic reconstruction, and the overall objectives set forth at the Third Plenary Session of the 18th CPC Central Committee have been largely achieved. By the time of the centenary of the founding of the CPC, significant progress has been made toward making systems more mature and well-defined across the board, providing robust institutional guarantees for building a moderately prosperous society in all respects and realizing the Party’s first centenary goal. These efforts have propelled China onto a new journey of fully building a modern socialist country. At present and in the period ahead, we are in a critical phase where Chinese-style modernization is being advanced in all respects to realize the great cause of national rejuvenation. Chinese-style modernization has continuously progressed through reform and opening up, and it will undoubtedly continue to open up vast prospects under this same framework. Faced with complex domestic and international circumstances, amid a new round of scientific and technological revolution and industrial transformation, and responding to the evolving expectations of the people, we must persist in pushing forward with reform. This is an essential requirement for upholding and improving the system of socialism with Chinese characteristics and advancing the modernization of the national governance system and governance capacity; it is indispensable for implementing the new development philosophy and better adapting to the changing principal social contradictions in China; it is crucial for putting the people at the center and ensuring that the fruits of modernization benefit all people more equitably; it is necessary for addressing major risks and challenges and ensuring steady and sustained progress in the cause of the Party and the country; it is imperative for promoting the building of a community with a shared future for mankind and gaining strategic initiative amid accelerating global changes; and it is essential for deepening the new great project of Party building in the new era and forging an even stronger and more resilient Marxist party. Reform and opening up is an ongoing process—there is no finish line. The entire Party must consciously place reform in a more prominent position and, focusing on advancing Chinese-style modernization, further deepen reform in all respects. (2) Guiding Principles for Further Deepening Reform in All Respects. Upholding Marxism-Leninism, Mao Zedong Thought, Deng Xiaoping Theory, the important thought of “Three Represents,” and the Scientific Outlook on Development; fully implementing Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era; thoroughly studying and applying General Secretary Xi Jinping’s series of new ideas, viewpoints, and judgments on comprehensively deepening reform; fully, accurately, and comprehensively implementing the new development philosophy; adhering to the general principle of seeking progress while maintaining stability; upholding emancipating the mind, seeking truth from facts, keeping pace with the times, and being pragmatic; further liberating and developing social productive forces, stimulating and enhancing social vitality; coordinating domestic and international contexts; advancing the “five-sphere integrated plan” in a coordinated manner; promoting the “four-pronged comprehensive strategy” in a balanced way; taking economic structural reform as the driving force; prioritizing social fairness and justice and improving the well-being of the people as both the starting point and ultimate goal; placing greater emphasis on systematic integration, highlighting key priorities, and ensuring tangible results of reform; thereby fostering better alignment between production relations and productive forces, superstructure and economic base, and national governance and social development, providing powerful impetus and institutional safeguards for Chinese-style modernization. (3) Overall Goals for Further Deepening Reform in All Respects. Continue to improve and develop the system of socialism with Chinese characteristics and advance the modernization of the national governance system and governance capacity. By 2035, a high-standard socialist market economy will be fully established; the system of socialism with Chinese characteristics will be further improved; basic modernization of the national governance system and governance capacity will be achieved; and basic socialist modernization will be realized, laying a solid foundation for building a strong socialist modern country by mid-century. — Focus on establishing a high-standard socialist market economy: give full play to the decisive role of the market in resource allocation, enhance the role of the government, uphold and improve the basic socialist economic system, promote high-level scientific and technological self-reliance, advance high-level opening up, build a modernized economic system, accelerate the formation of a new development pattern, and drive high-quality development. — Focus on developing whole-process people’s democracy: uphold the organic unity of Party leadership, the people being masters of the country, and law-based governance; strengthen the institutional framework for the people’s mastery of the country, expand and institutionalize consultative democracy at multiple levels, further improve the socialist rule-of-law system with Chinese characteristics, and elevate the construction of a socialist country under the rule of law to a higher level. — Focus on building a strong socialist cultural nation: uphold the fundamental system of Marxism’s guiding position in the ideological sphere, improve mechanisms for developing cultural undertakings and industries, promote cultural prosperity, enrich the spiritual and cultural lives of the people, and enhance the country’s cultural soft power and the influence of Chinese culture. — Focus on improving the quality of life for the people: refine income distribution and employment systems, strengthen the social security system, enhance the balance and accessibility of basic public services, and achieve more substantial progress in promoting well-rounded human development and common prosperity for all. — Focus on building a Beautiful China: accelerate the comprehensive green transformation of economic and social development, improve the ecological environment governance system, promote eco-priority, conservation and intensive use, and green, low-carbon development, and foster harmonious coexistence between humanity and nature. — Focus on building a higher-level Safe China: improve the national security system, strengthen the integrated national strategic system, enhance capabilities to safeguard national security, innovate governance mechanisms and methods, and effectively establish a new security landscape. — Focus on elevating the Party’s leadership and long-term governing capacity: innovate and improve leadership and governance approaches, deepen institutional reforms in Party building, and improve the system of comprehensively strict Party self-discipline. By the 80th anniversary of the founding of the People’s Republic of China in 2029, the reform tasks outlined in this decision will be completed. (4) Principles for Further Deepening Reform in All Respects. Drawing on and applying the valuable experiences gained since the launch of reform and opening up, especially during the new era of comprehensive deepening reform, the following principles shall be observed: Uphold the Party’s overall leadership, firmly safeguard the authority and centralized, unified leadership of the CPC Central Committee, give full play to the Party’s core role in overall planning and coordinating all parties, ensure that Party leadership permeates every aspect and stage of reform, and keep reform on the correct political course; adhere to a people-centered approach, respect the people’s status as masters and their spirit of pioneering innovation, respond promptly to the people’s calls, ensure that reform is for the people, relies on the people, and shares its benefits with them; uphold both upholding fundamental principles and pursuing innovation, remain steadfast in socialism with Chinese characteristics, keep pace with the times, adapt to practical developments, address pressing issues, and advance theoretical, practical, institutional, cultural, and other forms of innovation from a new starting point; take institutional development as the main thread, strengthen top-level design and overall planning, adopt a dual approach of abolishing outdated systems while establishing new ones, prioritize establishing new systems before dismantling old ones, consolidate fundamental institutions, improve basic systems, and innovate key systems; adhere to the principle of comprehensively governing the country according to law, deepen reform and advance Chinese-style modernization within the legal framework, ensure unity between reform and law, guarantee that major reforms are based on legal grounds, and promptly codify reform achievements into laws and regulations; embrace a systems-thinking approach, properly manage major relationships such as those between economy and society, government and market, efficiency and fairness, vitality and order, development and security, and enhance the systematic, holistic, and coordinated nature of reform. II. Building a High-Standard Socialist Market Economy A high-standard socialist market economy is a crucial guarantee for Chinese-style modernization. We must better leverage market mechanisms, create a fairer and more dynamic market environment, optimize resource allocation and maximize efficiency, strike a balance between “liberalization” and “regulation,” better maintain market order, remedy market failures, ensure smooth circulation of the national economy, and stimulate endogenous momentum and innovative vitality throughout society. (5) Uphold and implement the “two unwavering commitments.” Unswervingly consolidate and develop the public sector of the economy; unswervingly encourage, support, and guide the development of the non-public sector; ensure that all forms of ownership equally access production factors, participate fairly in market competition, and enjoy equal legal protection, thus promoting complementary strengths and common development among different types of ownership. Deepen state-owned asset and enterprise reform, improve management and oversight mechanisms, strengthen strategic coordination among relevant administrative departments, optimize the layout and restructure the state-owned economy, and work to make state capital and state-owned enterprises stronger, better, and larger, enhancing their core functions and competitiveness. Further clarify the functional positioning of different types of state-owned enterprises, improve management of primary responsibilities and core businesses, and define priority investment areas and directions for state capital. Concentrate state capital in industries and key sectors vital to national security and the lifeline of the national economy, in public services, emergency response capabilities, and public-interest areas that affect people’s livelihoods, and in forward-looking, strategic emerging industries. Establish institutional arrangements to promote original innovation in state-owned enterprises. Deepen reforms of state-capital investment and operating companies. Introduce an evaluation system for state-owned enterprises’ fulfillment of strategic missions, improve the classification-based assessment system for SOEs, and conduct value-added accounting for the state economy. Promote independent operation of natural monopoly segments and market-oriented reforms of competitive segments in industries such as energy, railways, telecommunications, water conservancy, and utilities, and improve regulatory mechanisms. Adhere to policies and measures aimed at creating a favorable environment and providing more opportunities for the development of the non-public sector. Enact a Law on the Promotion of the Private Sector. Thoroughly dismantle market access barriers, open competitive infrastructure sectors fairly to business entities, and establish long-term mechanisms for private enterprises to participate in major national projects. Support capable private enterprises in leading major national technological breakthroughs, and further open major national research infrastructures to private firms. Improve financing support policies and systems for private enterprises, addressing difficulties and high costs of financing. Strengthen long-term regulation of enterprise-related fees and enact laws and regulations to clear overdue payments owed to enterprises. Accelerate the establishment of a comprehensive credit rating system for private enterprises and improve credit enhancement mechanisms for small and medium-sized private businesses. Support and guide private enterprises in improving corporate governance and management systems, strengthening compliance and preventing corruption risks. Enhance mid- and post-event supervision, standardizing administrative inspections involving private enterprises.Improve the modern enterprise system with Chinese characteristics, promote the entrepreneurial spirit, and support and guide enterprises of all types to enhance resource efficiency, improve management practices, fulfill social responsibilities, and accelerate the development of more world-class enterprises. (6) Build a unified national market. Promote uniformity in basic market rules and regulations, ensure fair and consistent market supervision, and achieve high-standard connectivity of market infrastructure. Strengthen rigid constraints on fair competition reviews, reinforce anti-monopoly and anti-unfair competition measures, and eliminate all regulations and practices that hinder the establishment of a unified national market and fair competition. Standardize local investment promotion laws and regulations, strictly prohibiting any illegal or non-compliant granting of policy incentives. Establish and improve a unified, standardized public resource trading platform system—covering tendering, government procurement, institutional procurement, and state-owned enterprise procurement—with information sharing, enabling transparent, end-to-end project management. Enhance overall market regulatory capacity and standards. Refine the national standards system and deepen reforms of local standards management mechanisms. Improve systems and rules governing factor markets to facilitate smooth circulation of production factors, efficient allocation of resources, and full release of market potential. Develop a unified urban–rural construction land market. Perfect foundational systems that promote the sound development of capital markets. Foster an integrated national market for technology and data. Refine mechanisms whereby factor prices are primarily determined by market supply and demand, preventing undue government interference in price formation. Establish sound mechanisms ensuring that labor, capital, land, knowledge, technology, management, and data—these production factors—are evaluated by the market based on their contributions, with remuneration determined accordingly. Advance price reforms in sectors such as water, energy, and transportation; optimize tiered pricing schemes for residential water, electricity, and gas consumption; and refine refined oil pricing mechanisms. Enhance the circulation system, accelerate the development of the Internet of Things, establish integrated and interconnected circulation rules and standards, and reduce society-wide logistics costs. Deepen reforms of the energy management system, build a unified national electricity market, and optimize operational scheduling mechanisms for oil and gas pipeline networks. Accelerate the cultivation of a comprehensive domestic demand system. Establish long-term mechanisms for government investment to support the construction of major projects that are foundational, public-benefit oriented, and strategically significant over the long term. Improve institutional frameworks that enable government investment to effectively stimulate private investment, deepen reforms of the investment approval system, and refine mechanisms that invigorate private capital investment and facilitate project implementation, thereby forming a market-driven mechanism for sustainable, endogenous growth through effective investment. Perfect long-term mechanisms to expand consumption, reduce restrictive measures, appropriately increase public consumption, and actively advance the "first-launch economy." (7) Improve fundamental systems of the market economy. Refine the property rights system, providing equal and durable legal protection for property rights across all forms of ownership, and establishing an efficient, comprehensive intellectual property management framework. Enhance market information disclosure systems and develop robust protections for trade secrets. Implement equal accountability, criminal liability, and penalties for violations of property rights and legitimate interests across all economic sectors, and improve punitive damages systems. Strengthen law enforcement and judicial protection of property rights, prevent and correct instances of administrative or criminal intervention in economic disputes, and establish sound mechanisms for legally identifying and rectifying wrongful cases involving businesses. Refine market access systems and optimize market entry conditions for new business models and emerging sectors. Deepen reforms of the registered capital subscription registration system, enforcing timely and lawful payment of subscribed capital. Improve corporate bankruptcy mechanisms, explore the establishment of personal bankruptcy systems, advance supporting reforms related to company deregistration, and refine exit procedures for enterprises. Strengthen the social credit system and related regulatory frameworks. III. Improving Institutional Mechanisms for High-Quality Economic Development High-quality development is the primary task in building a modern socialist country in all respects. We must orient reform around the new development philosophy, ground ourselves in the new stage of development, deepen supply-side structural reform, refine incentive and constraint mechanisms for promoting high-quality development, and cultivate new drivers and advantages for growth. (8) Establish sound institutional mechanisms tailored to local conditions for developing new productive forces. Promote revolutionary technological breakthroughs, innovative allocation of production factors, and profound industrial transformation and upgrading. Facilitate optimized combinations and leaps forward among workers, means of labor, and objects of labor, fostering new industries, business models, and sources of momentum, and developing productive forces characterized by advanced technology, high efficiency, and superior quality. Strengthen research and development in key common technologies, cutting-edge leading-edge technologies, modern engineering technologies, and disruptive innovations. Enhance institutional provisions for new fields and emerging tracks, establish mechanisms for increasing investment in future industries, and refine policies and governance frameworks to support the strategic development of next-generation information technology, artificial intelligence, aerospace, new energy, new materials, high-end equipment, biomedicine, quantum technology, and other emerging sectors, guiding the healthy and orderly growth of nascent industries. Use national standards to lead the optimization and upgrading of traditional industries, encouraging enterprises to adopt digital and intelligent technologies as well as green technologies to modernize and upgrade conventional sectors. Reinforce environmental and safety-related regulatory constraints. Develop relevant rules and policies to expedite the formation of production relations better aligned with these new productive forces, encouraging the concentration of advanced production factors toward the development of new productive forces and significantly boosting total factor productivity. Encourage and regulate angel investment, venture capital, and private equity investments, further leveraging the role of government investment funds and cultivating patient capital. (9) Establish systems that promote deep integration between the real economy and the digital economy. Accelerate the advancement of a new type of industrialization, foster and strengthen clusters of advanced manufacturing...