China is taking bold steps in 2024 to push forward high-quality development through a series of significant reforms. President Xi Jinping emphasized the nation’s commitment to modernization and growth during his New Year address, highlighting reforms as the driving force behind China’s achievements.
In July, the third plenary session of the 20th Central Committee of the Communist Party of China (CPC) outlined a comprehensive reform agenda. The plenum adopted a landmark resolution to further deepen reforms and advance Chinese modernization, introducing over 300 specific measures. These reforms span across various sectors, including the economy, culture, social development, ecological sustainability, and national security.
To ensure these reforms are effectively implemented, the government has adopted a “hammer-and-nail” approach. Priority has been given to boosting domestic consumption, nurturing emerging industries, and advancing high-standard opening-up. Targeted policies have been introduced to tackle pressing economic challenges, such as supporting the private sector and restructuring local government debt.
Notably, China’s policies related to opening-up have attracted global attention. Visa policies have been relaxed, with transit visas extended and more countries added to the visa-free list. This has led to a significant increase in foreign visits, boosting international exchange and cooperation.
Foreign investment has also seen a surge as China removes restrictions in the financial and manufacturing sectors. Global companies are seizing the opportunity to invest in China’s growing market. For instance, a major pharmaceutical company announced plans to establish a new production base in Beijing, marking its largest investment in China to date.
These developments reflect China’s unwavering commitment to reform and its strategic approach to governance. The nation’s economy has shown noticeable rebound following the introduction of pro-growth policies. President Xi noted that high-quality development is being pursued with solid gains across various sectors.
As China sees reform through to the finish line, it sends a clear message to the world about its dedication to modernization and global cooperation. The reforms not only aim to enhance China’s own development but also to contribute positively to the global economy.
Reference(s):
cgtn.com
