China’s Third Plenum: What to Watch for Foreign Investors

The third plenum is, as the name implies, the third plenum of the 20th Central Committee of the CCP, which has been in session since the 20th National Congress held in October 2022. Plenums are usually held in the fall each year, but the expected plenum in October 2023 did not materialize and has been postponed until now.

During the third plenum, the Central Committee will approve a draft document titled The Central Committee’s Decision on Further Comprehensive Deepening of Reforms and Advancing Chinese-style Modernization. The draft document was formulated and revised based on opinions from within and outside the Party, according to the readout of the Politburo meeting on June 27. This document will outline the planned economic reforms for the coming years.

Although past plenums have seen major reforms and policy decisions, the Committee is not expected to announce any drastic pivots at this year’s meeting. Instead, more granular reforms that align with the country’s current development trajectory may be announced in key target sectors, such as the private sector, technology, and property.

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