1、 I.Background On 23 May,President Xi Jinping stressed the importance of further deepening reform across the board when chairing a symposium in Jinan,Shandong,to solicit opinions from representatives of both domestic and international businesses and academia.This symposium was believed to be part of

2、the preparation for the third plenary session of the 20th Communist Party of China(CPC)Central Committee in July.The session will primarily study issues concerning further comprehensively deepening reform and advancing Chinese modernization.Every time the CPC Central Committee makes major decisions

3、or formulates important documents,it conducts in-depth research and widely solicits opinions from various sectors.This is an established practice of the CPC.II.Importance of the Coming Plenary Session This years third plenum could have immense significance as it offers President Xi Jinping and the n

4、ew leadership an opportunity to outline their planning for the Chinese economy amid short-term challenges(e.g.,a slumping property sector and subdued consumer and business confidence)and structural issues(e.g.,weakening demographics and geopolitical headwinds).Furthermore,third plenums have typicall

5、y focused on reforms.For instance,the third plenum in December 1978 ushered in Chinas reform and opening-up,while the third plenum in November 2013 pledged to allow the market to play a decisive role in allocating resources in the economy.Those precedents,together with a Chinese economy facing sever

6、e challenges,thus raise expectations for reforms at the coming plenary session.What to Expect at the 20th CPC Central Committees Third Plenary Session 21 June 2024 Helen Chin Vice President E: William Kong Senior Research Manager E: Fung Business Intelligence 11/F LiFung Tower 868 Cheung Sha Wan Roa