Using Economic Structural Reform as a Key Lever for Further Deepening Reform

The 18th issue of Qiushi Journal in 2024 published an article by Han Wenxiu, emphasizing the need to utilize the driving force of economic structural reform to coordinate reform in all fields and thus provide strong impetus and institutional guarantees for Chinese modernization.

The third plenary session of the 20th CPC Central Committee was held at a key historical moment—at a time when the country is advancing Chinese modernization to realize national rejuvenation and build a great modern socialist society in all respects. It thoroughly implemented Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and the guiding principles from the 20th CPC National Congress as well as systematically summarized and made good use of the valuable experience of deepening reform in the new era. At the session, the Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization (the Resolution) was reviewed and approved.

With a clear theme, specific requirements, and pragmatic measures, the Resolution serves as a political manifesto, a call to action, and a roadmap for further deepening reform on the new journey in the new era. The Resolution emphasizes the need to give full play to the leading role of the economic structural reform in coordinating reforms in all fields, which holds great significance and far-reaching implications for providing strong impetus and institutional guarantees for Chinese modernization.

To exert the leading role of economic structural reform is of vital importance for further deepening reform. First, the pace of major economic structural reforms determines that of reforms in many other fields, since any change in these economic structural reforms may affect the bigger picture.

Second, to sustain the two miracles of rapid economic development and long-term social stability on the new journey in the new era, economic structural reform is required to play a leading role in advancing in-depth reform and high-standard opening up.

Third, high-quality development requires economic structural reform which functions as a catalyst. Therefore, we must make good use of the important instrument of reform and opening up to effectively improve the quality of our economy and promote its growth within a reasonable range. In doing so, we will lay a more solid material and technological foundation for our country to catch up with developed counterparts in terms of economic and social development and people’s living standards.

Focusing on the theme of further deepening reform and promoting Chinese modernization, the Resolution consists of 60 items in 15 parts, covering a wide range of topics related to economic structural reform, such as building a high-standard socialist market economy; promoting high-quality economic development; supporting all-around innovation; improving macroeconomic governance; promoting integrated urban-rural development; pursuing high-standard opening up; ensuring and improving the people’s wellbeing; deepening reform in ecological conservation.  

On the new journey in the new era, we are confronted with the arduous task of deepening economic structural reform. To achieve this, we must thoroughly study the new visions, new ideas, and new concepts proposed by General Secretary Xi Jinping on deepening reform on all fronts. At the same time, we should enhance our political stance, and align our thoughts and actions with the guiding principles of the CPC Central Committee, and with its arrangements and decisions, relentlessly ensuring that all tasks are completed to the letter and to a high standard.

Editor: Yi Xiaowei