China’s ruling Communist Party ended a key four-day meeting of top leaders on Thursday, state-run media said, with the world’s second-largest economy set to unveil its mid- to long-term economic policies amid challenges including a prolonged property sector crisis and population decline.
The third plenary session of the 20th Central Committee, which brings together about 200 top party officials and 170 alternate members, is set to release the outcome of the closed-door gathering in a communique.
On the first day of the conclave, leader Xi Jinping delivered a work report and explained a draft decision of the committee on “further comprehensively deepening” reforms and advancing “Chinese modernization,” a development model different from that of Western nations, the official Xinhua News Agency said.
Historically, the third plenum has served as a springboard for major changes in China’s development policies, including the adoption in 1978 of the reform and opening-up policy and the easing of the country’s one-child policy in 2013.
Besides economic issues, the plenary session is believed to have discussed a personnel reshuffle following scandals involving senior party members.
The Communist Party typically holds seven plenums over a five-year cycle. The third plenary session, following a twice-a-decade party congress in 2022, had been widely expected to be held last fall.
The apparent delay of the session has sparked speculation that there have been difficulties in formulating policies to cope with the country’s economic challenges.
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