China's policy agenda offers global benefits

A view of a privately owned textile company in Nantong, Jiangsu province. [Photo provided to China Daily]

Experts expressed optimism about China's long-term social and economic policies outlined in the resolution on further deepening reform comprehensively, saying the modernization drive of the world's second-largest economy is of global significance.

The resolution was adopted at the third plenary session of the 20th Central Committee of the Communist Party of China, which was held last week in Beijing. The communique from the plenum announced the adoption of the resolution.

Mehmood Ul Hassan Khan, president of the Pak-China Corridor of Knowledge and executive director of the Center for South Asia and International Studies, said, "The communique of the third plenum of the 20th CPC Central Committee shows a holistic and comprehensive policy agenda, covering all aspects of robust economic development, along with further support for new quality productive forces, which is a good omen for (China's) economic stability, sustainability, diversification and modernization."

"The communique stands for further liberalization of the economy and policy guidance, which will ultimately foster more development and social productivity. It also guarantees social justice and equality by supporting people-centric policies. All of these convey the message of constructive policies, further opening-up and international cooperation," he said.

He pointed out that regional and global enterprises' keen interest in further investing in China shows that regional and global communities welcome the outcome of the third plenum.

"The long-term stability and vast growth potential of the world's second-largest economy disseminate the message of reliability, productivity and positivity. China's institutional opening-up and the development of new quality productive forces will definitely create more opportunities for the entire world, benefiting not only the Global South, but also the Global North," he said.

Jasna Plevnik, president of the Geoeconomic Forum, a think tank in Croatia, said: "The communique is also about better understanding each other globally. It observes relations among countries in a profound way. That is why the communique attracted a lot of attention in Europe, and globally."

"China, as the world's second-largest economy, has the power to significantly affect the future course and stability of the world order. Though faced with an international situation full of chaos, noncooperation and underdevelopment trends, China's commitment to building an equal and orderly multipolar world emphasizes that it will not retreat from universally beneficial and inclusive economic globalization and will enhance regional opening," said Plevnik.

She added that the third plenum has given people the hope that the world can be better.

Hussain bin Ibrahim Al Hammadi, ambassador of the United Arab Emirates to China, commended the resolution, saying the document highlights China's willingness to leverage its enormous market to bolster capacity for openness, expand collaborations with others, and refine mechanisms for high-quality cooperation within the framework of the Belt and Road Initiative.

In China, reform and opening-up have unlocked the potential of its people, resulting in notable economic and social transformations, he said.

"China's modernization endeavors align with the UAE's agenda for 2030, both of which are focused on advancing sustainable development. I hold an optimistic outlook on China's economic future, expecting continued robust growth, which will pave the way for more cooperation that will benefit both our nations and the global economy," he said.

James Chin, professor of Asian Studies at the University of Tasmania in Australia, said that China's quest to promote new quality productive forces, apart from its drive for Chinese modernization, can also serve as a countermeasure to negative moves by some that aim to suppress China's growth.

Chen Weihua in Brussels and Yang Ran in Beijing contributed to this story.