The Central Committee of the Communist Party of China (CPC) holds a press conference on the guiding principles from the third plenary session of the 20th CPC Central Committee on July 19, 2024. (Xinhua/Jin Liwang)

The adoption of a reform resolution is the most important outcome of the third plenary session of the 20th Communist Party of China (CPC) Central Committee, a senior official said Friday.

Tang Fangyu, deputy head of the CPC Central Committee Policy Research Office, made the remarks at a press conference on the guiding principles from the just-concluded plenum.

Promoting Chinese modernization faces many complex issues, necessitating further deepening reform comprehensively to better adapt the relations of production to the productive forces, the superstructure to the economic base, and national governance to social development, Tang said.

The resolution, with economic structural reform as the spearhead, comprehensively plans reforms in various fields and aspects, Tang said, adding that the resolution puts forward more than 300 important reform measures, all of which involve reforms on the levels of systems, mechanisms, and institutions.

China will accelerate efforts to build a high standard market system, which is a major reform task for the country, said Han Wenxiu, executive deputy director f the Office of the Central Committee for Financial and Economi Affairs.

Efforts will be made to build a unified national market, including the development of a unified urban-rural construction land market, a nationwide integrated technology and data market, and a unified national electricity market.

The country will improve the market system and rules for production factors such as labor, capital, land, knowledge, technology, management, and data, Han told the press.

The systems underpinning the market economy will be refined, including optimizing the systems for property rights protection, information disclosure, market access, bankruptcy exit and credit supervision.

To strengthen its macroeconomic governance, China looks to improve the fiscal relations between central and local governments, and research will be conducted to make China's tax system compatible with new business models, Han added.

China will also enhance policy support for childbirth to foster a fertility-friendly society, as part of its efforts to ensure and improve the people's wellbeing, according to Han.

He said the country will make institutional improvements to facilitate high-quality and full employment, and enhance the development of old-age care industry.

In promoting high-level opening up, China will expand unilateral opening up to the least-developed countries, and open to the rest of the world its goods, service, capital and labor markets in an orderly way, Han said.

Improvements will also be made on relevant systems to make it more convenient for people from overseas to live, seek medical services and make payments in China.

Huai Jinpeng, minister of education, said China will make coordinated efforts to promote integrated reform of institutions and mechanisms pertaining to education, science and technology, and human resources.

Hailing China's remarkable progress in building the world's largest education system, Huai said the country now boasts some 250 million people with higher education background.

China will accelerate the development of world-class universities and preponderant disciplines, and promote the commercialization of scientific research achievements, he said.

In deepening structural scientific and technological reforms, China will make coordinated efforts to achieve more breakthroughs in core technologies and strengthen the integration of technological and industrial innovation.

The country will advance institutional reforms in talent development, adopt more proactive and open talent policies, and accelerate the building of a contingent of personnel with expertise of strategic importance, he added.

China is committed to the integrated advancement of reform and rule of law, according to Shen Chunyao, director of the Legislative Affairs Commission of the Standing Committee of the National People's Congress.

Noting that the rule of law provides an important guarantee for Chinese modernization, Shen said substantial efforts will be made to ensure that the deepening of reforms and promoting of Chinese modernization are carried out on the track of rule of law.

Among the 303 laws currently effective in the country, 78 were enacted after the third plenary session of the 18th CPC Central Committee, including important legislation such as the Civil Code. Meanwhile, a total of 334 revisions have been made to 147 laws, Shen said.

The latest plenum's resolution has also put forward important tasks of legislation or law revisions in spheres including the private economy, finance, ecology and combating cross-border corruption, according to Shen. 

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