Further deepening reform is key to advancing modernization
Skyscrapers border a lush green landscape in Shenzhen's central business district. The third plenary session of the 14th CPC Central Committee in 1993 formulated the basic framework of the socialist market economic system and proposed the establishment of a modern enterprise system. We can expect the CPC Central Committee to announce interesting new pivots and more granular reforms that align with the country's current development trajectory in key target sectors, to provide major initiatives that address the risks and obstacles in the path of China's long-term social and economic progress. Meanwhile, it is also expected that the CPC Central Committee will look to adjust the tax structure and refine payment systems to better support regional development and economic equality. The future of China will be misjudged if we don't try to fully understand the CPC Central Committee's decisions on further comprehensive deepening of reforms and advancing Chinese-style modernization.
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