China’s Third Plenum Embraces a ‘New Development Philosophy’

Quick Summary:

The long-awaited economic-focused meeting of the CCP’s governing body emphasized Beijing’s commitment to growth centered on technology – and CCP control.

The much-anticipated Third Plenum of the Chinese Communist Party (CCP) 20th Central Committee wrapped up on July 18, with a communique issued at the end of the session pledging to “further deepen reform comprehensively” while remaining “committed” to the CCP’s bedrock ideology.

Likewise, the communique pledged, without elaborating, to “implement various measures for preventing and defusing risks in real estate, local government debt, small and medium financial institutions, and other key areas.” More details will follow in coming days, but the lack of space devoted to these key economic issues in the communique suggests a lower priority accorded to them versus other concerns that took up more room, including national security.

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Article Details

Author / Journalist: Shannon Tiezzi

Category: Economy

Markets: United StatesAustraliaBangladeshChinaHong KongIndiaIsraelNorth KoreaSouth KoreaUkraineUzbekistanVietnam

Topics: Chinese Communique Economic China’s Market Reform Growth Third Plenum Control China

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-19 @ 01:09:00 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2423 words

Reading Time: 14 minutes read

Sentences: 80 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © The Diplomat

News ID: 21676342

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