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China's Third Plenum Will Cater to Xi's Statist Vision of Economic Reform

Jul 12, 2024 | 17:53 GMT

Chinese President Xi Jinping attends a signing ceremony in Beijing, China, on May 31, 2024.
Chinese President Xi Jinping attends a signing ceremony in Beijing, China, on May 31, 2024.

(Tingshu Wang - Pool/Getty Images)

China's Third Plenum will lay out the Chinese Communist Party's goals for the next five years of economic reforms, but there will likely be little deviation from Beijing's increasingly statist turn while policy and structural constraints will limit the effectiveness of reform plans, perpetuating business migrations to regional geopolitical safe havens. China will hold the third plenary session of the 20th Central Committee of the Chinese Communist Party (CCP) -- the Third Plenum, for short -- from July 15-18 in Beijing. The quinquennial Third Plenum will convene China's key leaders, from the premier decision-makers in the Politburo and state ministers to provincial party secretaries and more. Since 1978, when the Third Plenum of the 11th Central Committee heralded China's economic opening up to the world after decades of economic insularity under Mao Zedong, each Third Plenum has been viewed as the key platform for China's leaders to elaborate on their...

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