China is committed to building a high-level socialist market economy, laying the foundation for high-quality development.

On Thursday, China’s top political advisory body concluded the seventh session of its standing committee in Beijing, which focused on consultations and discussions over a two-and-a-half-day agenda centered on building a high-level socialist market economy.

During the seventh session of the Standing Committee of the 14th Chinese People’s Political Consultative Conference (CPPCC) National Committee, various suggestions were made to promote market-oriented reforms, enhance the rule of law, foster opening-up, reform financial and tax systems, drive technology innovation, and support private firms in exploring new areas, among other initiatives.

This session provided a clear road map for further boosting China’s high-quality economic development and identified areas needing more effort. With recent improvements in economic data and combined policy efforts, experts believe China is on track to achieve its growth goals, pursue high-quality development, and become more resilient against external complexities.

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