China Third Plenum Communique: Adopts resolution on further deepening reform comprehensively

Economic Stimulus:

• "It is necessary to guide reform with the new development concept, based on the new development stage, deepen supply-side structural reform, improve the incentive and constraint mechanism to promote high-quality development, and create new momentum and new advantages for development."


• "We must implement macroeconomic policies in accordance with the decisions and arrangements of the Party Central Committee on economic work, actively expand domestic demand, develop new quality productivity in accordance with local conditions, accelerate the cultivation of new foreign trade momentum, solidly promote green and low-carbon development, effectively protect and improve people's livelihood, and consolidate and expand the results of poverty alleviation."


• "We must persist in doing our best and acting within our means, improve the basic public service system, strengthen the construction of inclusive, basic and basic livelihood, solve the most direct and practical interests that the people are most concerned about, and continuously meet the people's yearning for a better life."


• "It is necessary to improve the macroeconomic regulation system, coordinate and promote reforms in key areas such as finance and taxation, and enhance the consistency of macroeconomic policy orientation."

National Security:

• "The plenary session pointed out that national security is an important foundation for the steady and long-term development of China's modernization. It is necessary to fully implement the overall national security concept, improve the system and mechanism for maintaining national security, achieve a benign interaction between high-quality development and high-level security, and effectively ensure the long-term stability of the country."


• "It is necessary to improve the national security system, improve the public security governance mechanism, improve the social governance system, and improve the foreign-related national security mechanism."


• "The plenary session pointed out that the modernization of national defense and the army is an important part of China's modernization. We must uphold the absolute leadership of the Party over the people's army, implement the strategy of reform and strengthening the army in depth, and provide a strong guarantee for achieving the goal of the centenary of the founding of the army as scheduled and basically realizing the modernization of national defense and the army."

Indirect Impact on Housing Market:

• "The plenary session proposed that the integrated development of urban and rural areas is an inevitable requirement for China's modernization. It is necessary to coordinate new industrialization, new urbanization and comprehensive rural revitalization, comprehensively improve the integration level of urban and rural planning, construction and governance, promote equal exchange and two-way flow of urban and rural factors, narrow the gap between urban and rural areas, and promote the common prosperity and development of urban and rural areas."


• "It is necessary to improve the system and mechanism for promoting new urbanization, consolidate and improve the basic rural management system, improve the support system for strengthening, benefiting and enriching farmers, and deepen land system reform."

Long-Term Goals and Reforms:

• "By 2035, a high-level socialist market economic system will be fully established."


• "By 2029, the 80th anniversary of the founding of the People's Republic of China, the reform tasks proposed in this decision will be completed."


• "We must consciously put reform in a more prominent position and further comprehensively deepen reform around promoting Chinese-style modernization."

18 Jul 2024 - 09:28- Important- Source: Xinhua