China pledges further reform and support amid uncertainties

SHANGHAI, Jul 31 (SMM) – China will stay committed to deeper reform and wider opening-up, and will step up efforts to expand domestic demand and increase the vitality for economic development in the face of growing uncertainties and challenges presented by the COVID-19 pandemic, according to a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee on Thursday July 30.

The meeting also adopted a decision to hold the Fifth Plenary Session of the 19th CPC Central Committee in October, where attendees will assess the proposals for formulating the 14th Five-Year Plan (2021-2025) and future targets for 2035. 

Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting.

China’s economic growth in the Q2 was significantly better than expected, the Politburo said. Given the current “severe and complex” economic situation, it reiterated that China will pursue high-quality economic development, maintain social stability, and strive to fulfil the economic and social development goals and tasks for 2020.