The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China is attracting media attention around the world. The foreign press agrees that the communiqué issued confirms the long-term strategy of political stability, technological independence and strengthening domestic consumption - key pillars of China's path to socialist modernisation.
Steady direction even in turbulent times
According to Associated Press i Financial Times the new plan does not represent a dramatic turnaround, but rather confirms policy continuity.
Professor Xin Sun of King's College London, stressed that the document "reflects more continuity than change". Similarly, Bert Hofman of the National University of Singapore, told the FT that China is tactically betting on stability - "in a world full of upheaval, it continues to implement its socialist modernisation plan".
Technological self-sufficiency as an engine of development
Foreign media have also noted the growing emphasis on scientific and technological self-sufficiency. Reuters informed that the communiqué calls for building modern industrial system based on advanced manufacturing and to accelerate "high-level scientific and technological self-reliance". Financial Times added that China wants to significantly strengthen independence from foreign technologies, especially in response to restrictions by the United States. According to Business Standard the aim is to create new productive forces and achieve technological autonomy.
Recovery in domestic demand and consumption
Another issue highlighted by the media is China's efforts to boost domestic consumption. AP recalled government programmes such as subsidies for consumer credit, childcare packages or buy-back programmes for electric vehicles and appliances. These are to help stir up internal market and boost economic growth. Reuters i Business Standard pointed out that the emphasis on improving the living standards of the population and developing domestic demand was crucial for the long-term balance of the economy. Analyst Yue Su from the Economist Intelligence Unit for AFP said that investment would be more focused on areas such as urban planning, public services and elderly care.
Foreign experts agree: China is entering a new phase of modernization with a clear vision - stability, innovation and strength of the domestic economy are to be the basis for further development.
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