1、 I.Background The 20th Central Committee of the Communist Party of China(CPC)convened its third plenary session in Beijing from 15 to 18 July 2024.At this highly anticipated leadership meeting,the CPC Central Committee considered and adopted the Resolution of the Central Committee of the Communist P

2、arty of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization(hereinafter the Resolution).Chinese President Xi Jinping also delivered explanatory remarks on the draft version of the Resolution.A brief communique was published on the evening of 18 July after the plenary s

3、ession concluded,and the full document of the Resolution was released on 21 July.II.Significance of the 2024 Third Plenary Session Third plenums have typically focused on reforms.For instance,the third plenum in December 1978 ushered in Chinas reform and opening-up,while the third plenum in November

4、 2013 pledged to allow the market to play a decisive role in allocating resources in the economy.This year is no exception.Through the Resolution adopted in this years third plenary session,the central leadership of the CPC unveiled a master plan to deepen Chinas reform and modernize the country,whi

5、le also detailing major reform directions and more than 300 reform initiatives in various fields and aspects(see pp.2-4 for details).It is worth noting that the third plenary session this year has not only outlined the reform priorities for the long term,but also committed to meeting short-term econ

6、omic targets,which is uncommon.Historically,third plenums have largely focused on long-range planning.Therefore,the mention of accomplishing the goals for this years economic and social development in the communique this year comes as unexpected.Another point to note is that this years Resolution ha