The third plenum of the Communist Party of China has been a landmark event since Deng Xiaoping’s groundbreaking reforms in 1978.
Major market reform has bypassed rural land ownership, but experts say not to expect any big moves at the third plenum.
A fiscal gulf exists between China’s central and local governments, and it is seen as a hurdle to healthy and sustainable development ahead of the third plenum.
Under China’s ‘dual circulation’ strategy, introduced in 2020, the country is reducing its trade dependence on the West and bolstering its domestic market. What has been accomplished in the plan’s first four years?
Observers widely expect long-awaited party conclave to double down on ‘whole-nation system’ of development, but have mixed views on the likely outcomes.
Some of the ambitious economic goals set in 2013 were modified to match the geopolitical landscape and inward challenges of recent years, and the July 15-18 third plenum presents Beijing another chance to alter or stay the course.
