A five-year plan that aims to modernize Chinese industries and advance economic reforms was adopted as the third plenary session of the 20th Chinese Communist Party (CCP ) Central Committee’s (CCP ) Central Committee’s ) third session came to an end on Thursday ( July 18 ).  ,
During the four-day Third Plenum, about 200 CCP Central Committee people approved the” Resolution on More Deepening Reform Comprehensively to Advance Chinese Modernization” during the session.  ,
A full of 165 different Central Committee people and some administrative officials, academics, experts and other State representatives also attended the chamber. At the time of Friday ( July 19 ), a full version of the resolution’s official version was not made public, but CCP officials gave more details at a press conference.
” The quality, with financial structural reform as the spear, fully plans reforms in several fields and features”, Tang Fangyu, deputy head of the CPC Central Committee Policy Research Office, said at a press briefing on Friday. ” The resolution puts forwards more than 300 important reform measures, all of which involve changes on the levels of devices, procedures and institutions”.
Tang argued that China’s modernization process has many difficult issues that necessitate more extensive reforms to better adapt the interactions between production and productive forces, the superstructure to the financial foundation, and national governance to interpersonal development.  ,
According to Han Wenxiu, senior deputy director of the Office of the Central Committee for Financial and Economic Affairs, China will accelerate efforts to create a high-standard industry program, which is still a significant transformation challenge for the nation.
He stated that efforts will be made to create a unified national industry, including the creation of a federal included technology and data business, a national power industry, and a unified urban-rural property market.
The CCP stated in the Third Plenum’s communiquéique on Thursday that the overall goals of the further deepening of complete reform were to remain enhancing and developing socialism with Chinese traits and modernizing China’s technique and power for management.  ,
” By 2035, we will have finished building a high-standard socialist market economy in all respects, more improved the structure of socialism with Chinese characteristics, usually modernized our structure and capacity for governance, and generally realized communist modernization”, the communique said.
The People’s Republic of China will have completed the reform tasks set forth in the resolution by the time its 80th anniversary in 2029, and China will have complete modern socialist nationhood by the middle of this century.
Beware of foreign ideologies.
The communique and the resolution came after Qiushi, the CCP’s official theoretical journal, published an article on July 15 titled” Must maintain self-confidence and self-reliance”.
China must continue to be unwavering in its convictions of Marxism and socialism with Chinese characteristics, according to the article, which is a collection of previous speeches by CCP General Secretary Xi Jinping. It said China should not” swallow foreign ideas without digesting them”, or” Shi Yang Bu Hua” in Mandarin.  ,
Xi used the phrase in a speech about Marxism in November 2015. Xi said at the time that China should incorporate Western economic and financial knowledge into its Marxist political economics principles and methodology.  ,
He argued that foreign knowledge that can spur China on its production and the market should be absorbed, but that information that reflects the nature and value of capitalist ideology should not be copied there.
In other CCP articles,” Shi Yang Bu Hua” was used to remind readers that China should learn from its own cultural, political, and legal systems without becoming completely Westernized.  ,  ,
Hung Yao-Nan, a political scientist at Tamkang University, stated in a panel discussion held on Thursday in Taiwan that Xi’s call for socialist modernization demonstrates how he rejects the West’s market economy and political systems, which he claimed have developed over the past 400 to 500 years.
Hung said Xi still believes that the world is experiencing “major changes unseen in a century” and that Western civilization is expanding while China’s is growing despite recent economic setbacks.
Ming Chu-cheng, a professor at National Taiwan University’s Department of Political Science, claimed that Xi’s economic reforms reverse those taken by former Chinese president Deng Xiaoping, who promoted decentralization and promoted flexibility in economic policies.
Ming claimed that while Xi claims to support a “market economy,” he actually does the opposite by strengthening the authority of state-owned enterprises in the Chinese economy.
Xi over-praised
When Qiushi published Xi’s article on July 15, the official Xinhua News Agency also published a commentary praising Xi as China’s” supreme reformist”, a title higher than Deng’s “architect of China’s economic reforms”.
According to the Xinhua article, Xi is another outstanding reformer on the same mission to modernize China, but that the top leaders each faced different circumstances.  ,
It said when Deng started the country’s liberalizing reforms, China’s GDP per capita was less than US$ 200, when Xi took office as CCP General Secretary in 2012, China was already the world’s second-largest economy with a GDP per capita of over$ 6, 000. However, it said some of China’s advantages, such as low labor costs, are now diminishing.  ,
” The easy and joyful reforms have already been completed. Delicious meats have been eaten and the remains are all bones”, Xi was quoted saying in the article, with “bones” alluding to more difficult economic reforms.  ,
The article praised Xi for having doubled China’s GDP since 2012, a period over which he has overseen more than 2, 000 reform measures. The article was removed from China’s highly censored internet on July 16 for unknown reasons. It’s still available on overseas websites, however.  ,  ,
Some commentators claimed that the article was politically incorrect because it exaggerated Xi’s economic accomplishments while the Chinese public believed the current state of the economy.
As China faces many challenges, including a slowing economy, a property crisis and foreign technology blocks, it’s not appropriate to publish an article to praise Xi now, Yuan Juzheng, a professor at the Department of Philosophy, National Taiwan University, said in a TV program.  ,
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