The ruling Chinese Communist Party (CCP) has reaffirmed its leadership while promising “to deepen reforms” during its Third Plenum, which concluded last week. China observers say the proposed reforms could hurt the people struggling to make ends meet amid a sluggish economy.
The Third Plenum, held from July 15 to July 18, is the CCP’s most significant meeting. It is convened every five years to set major political and economic policies for the Chinese regime.
Regarding the main goal of the CCP-led “comprehensive reforms” outlined in a communiqué, China observers spoke with The Epoch Times about the three plans that would further consolidate Chinese leader Xi Jinping‘s power and negatively impact the livelihoods of the Chinese people.
Economic ‘Great Leap Forward’
The CCP emphasized implementing the strategy of invigorating China through science and advancing “socialist modernization” with Chinese characteristics.
Wang Juntao, a U.S.-based political scientist, said that Xi intends to launch an economic Great Leap Forward, aiming to overtake Western countries through scientific and technological revolution as part of its industrial policy.
China analyst Wang He concurs. He said that establishing science and technology committees in various regions is related to deepening reform and self-reliance in science and technology announced by the Third Plenum. However, he noted that China’s scientific foundation is weaker than in Western countries due to high-tech sanctions imposed by countries like the United States for using imported or stolen technologies for military development.
Collective Economic System
According to Wang Juntao, another plan announced at the CCP’s Third Plenum is establishing a collective economic system nationwide under a unified market. This would allow direct resource extraction by central government authorities for investment in new quality productive forces such as EVs and solar energy products. However, this plan requires belt-tightening due to high government debt and declining foreign investment.
Major Political Movement
In addition to these plans, former Foreign Minister Qin Gang has resigned from his position on the Central Committee while top military leaders have been removed from their posts due to grave violations of party discipline. This indicates Xi’s intention of launching another major political movement and carrying out large-scale purges within party ranks.
these proposed reforms aim at consolidating power under Xi Jinping but may negatively impact ordinary citizens who are already facing challenges such as unemployment rates, salary cuts, property defaults by major firms,and a real estate crisis.
