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ARTICLE · 12 AUGUST 2024

CPC's Third Plenary Session Heralds New Directions For China Economy

Alvarez & Marsal
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The recent CPC plenary session reviewed and approved the Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese...

ChinaTax
Felix Lee
Felix Lee
Sean Zhang
Sean Zhang
Paul Gu
Paul Gu
Grace Wang
Grace Wang
Joyce Au
Joyce Au

Key Takeaways From the 20th Central Committee's Third Plenary Session, Beijing, July 15–18, 2024

The recent CPC plenary session reviewed and approved the Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization (hereinafter referred to as the Resolution). Several key developments resulted from the session that impact overall direction for the China economy.

The session reaffirmed the dominant role of the public ownership sector in China's economy, emphasizing the need to strengthen, optimize and expand state-owned capital and enterprises, while also unwaveringly encouraging, supporting and guiding the development of the private sector.

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