On the morning of July 19, the Central Committee of the Communist Party of China held a press conference to introduce and interpret the spirit of the Third Plenary Session of the 20th Central Committee of the Communist Party of China.

The "Decision" proposes more than 300 important reform measures, all of which involve the content of the system, mechanism and system level. Some of them are the improvement and promotion of past reform measures, and some are new reform measures that are explored according to practical needs and pilot projects. The key information is interpreted by Jingtai for you.

Clarify the overall goal of further deepening reform in an all-round way

Mu Hong, deputy director of the Central Reform Office in charge of daily work, introduced the important achievements of comprehensively deepening reform in the new era, and the overall goals and important principles of further deepening reform in an all-round way.

Mu Hong said that the "Decision" stands at a new historical starting point and clarifies the overall goal of further deepening reform in an all-round way: continue to improve and develop the socialist system with Chinese characteristics, and promote the modernization of the national governance system and governance capacity. By 2035, we will build a high-level socialist market economy in an all-round way, further improve the socialist system with Chinese characteristics, basically modernize the national governance system and governance capacity, and basically realize socialist modernization, so as to lay a solid foundation for building China into a great modern socialist country in all respects by the middle of this century. This general goal is not only in line with the overall goal of comprehensively deepening reform put forward by the Third Plenary Session of the 18th Central Committee of the Communist Party of China, but also in line with the strategic deployment made by the 20th National Congress of the Communist Party of China, and clarifies the goal orientation for further deepening reform in an all-round way.

Mu Hong said that the "Decision" proposes that to further deepen reform in an all-round way, it is necessary to implement the major principles of adhering to the party's overall leadership, adhering to the people-centered, adhering to integrity and innovation, adhering to system construction as the main line, adhering to the comprehensive rule of law, and adhering to the system concept. These six principles embody the core essence of General Secretary Xi Jinping's important exposition on comprehensively deepening reform, and are a scientific summary of the valuable experience of comprehensively deepening reform since the reform and opening up, especially in the new era.

Clarify the three key reform measures to accelerate the construction of a high-standard market system

Han Wenxiu, deputy director of the Central Finance Office in charge of daily work and director of the Central Agricultural Office, said that the rule of law is the best business environment, and it is necessary to formulate and introduce a law on the promotion of the private economy. The "Decision" emphasizes the promotion of the entrepreneurial spirit and the acceleration of the construction of more world-class enterprises, which is a common requirement for all types of business entities.

Speeding up the construction of a high-standard market system is a major reform task. The Decision identifies three key reform measures:

The first is to build a unified national market, including the construction of a unified urban and rural construction land market, a national integrated technology and data market, a unified and standardized, information-sharing bidding and public resource trading platform system, integrated circulation rules and standards, and a unified national electricity market.

The second is to promote the market-oriented reform of factors, and improve the market systems and rules for factors such as labor, capital, land, knowledge, technology, management, and data.

The third is to improve the basic system of the market economy, including the improvement of property rights protection, information disclosure, market access, bankruptcy exit, credit supervision and other systems. A market economy is essentially an economy governed by the rule of law. In particular, the "Decision" proposes to prevent and correct the use of administrative and criminal means to intervene in economic disputes, and to impose the same responsibility and punishment for acts that infringe upon the economic property rights and legitimate interests of various forms of ownership.

Release a clear signal of expanding high-level opening-up

Mu Hong, deputy director of the Central Reform Office in charge of daily work, said that adhering to opening up to the outside world is China's basic national policy. Reform and opening-up complement each other, and promoting reform and development through opening-up is a successful practice of China's reform and development.

At present, the world is undergoing major changes unseen in a century, and external uncertainties are increasing, but this will not affect China's firm determination and confidence to continue to deepen reform and expand opening up. General Secretary Xi Jinping has stressed on many occasions that "China's door to opening up will not be closed, but will only open wider and wider", and "we will adhere to the basic national policy of opening up to the outside world, promote reform, development and innovation through opening-up, and continue to promote a higher level of opening up".

The "Decision" of the plenary session also made special arrangements for opening up, involving the expansion of institutional opening-up, the reform of the foreign trade system, the management of foreign investment and foreign investment, the optimization of the layout of regional opening-up, and the improvement of the mechanism for promoting high-quality Belt and Road cooperation, releasing a clear signal of expanding high-level opening-up.

China is accelerating the construction of a new development paradigm, relying on the advantages of its domestic super-large-scale market, continuously expanding the depth and breadth of opening-up in promoting dual circulation, creating new advantages of a higher-level open economy, actively participating in the reform of global economic governance, and sharing development opportunities with other countries in the world to create a better future.

China's use of foreign capital will continue to expand

Han Wenxiu, deputy director of the Central Finance Office in charge of daily work and director of the Central Agricultural Office, said that opening up to the outside world is our basic national policy, and foreign-funded enterprises are important participants and active contributors to China's economic development.

Affected by changes in the international environment and other factors, China's actual utilization of foreign capital has declined. This is a temporary phenomenon. With the continuous improvement of the business environment and the continuous increase of market opportunities, China's use of foreign capital will continue to expand. The Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) made important arrangements for promoting high-level opening up and expanding the use of foreign investment.

First, we should steadily expand institutional opening-up. We need to take the initiative to align with international high-standard economic and trade rules, realize the compatibility of rules, regulations, management and standards in the fields of property rights protection, industrial subsidies, environmental standards, labor protection, government procurement, e-commerce, and finance, establish an efficient, convenient and safe cross-border data flow mechanism, and create a transparent, stable and predictable institutional environment. Recently, we have implemented a unilateral visa-free policy for some countries, which has been widely welcomed and achieved good results. We will further improve the facilitation system for housing, medical care and payment for people who come to China for business and tourism.

The second is to further relax market access. It is necessary to implement the "zero-clearing" requirement of foreign investment access restrictions in the manufacturing sector as soon as possible, expand the catalogue of industries that encourage foreign investment, and reasonably reduce the negative list for foreign investment access. Expand the opening up of the service industry, fully implement the negative list for cross-border trade in services, and promote the orderly expansion of opening up in the fields of telecommunications, Internet, education, culture, and medical care. Accelerate the development of offshore trade.

The third is to effectively protect the national treatment and legitimate rights and interests of foreign-funded enterprises. We should support the development of domestic and foreign-funded enterprises without discrimination, and ensure the national treatment of foreign-funded enterprises in terms of factor acquisition, qualification licensing, standard setting, government procurement, etc. In recent years, many good cases have emerged in various localities in the protection of trade secrets and intellectual property rights of foreign-funded enterprises, which have effectively protected the investment rights and interests of foreign-funded enterprises.

Han Wenxiu said that at present, economic globalization is facing huge challenges, and it is the common responsibility of governments and enterprises to oppose unilateralism and protectionism, and maintain the security and stability of the global economic order and industrial and supply chains. China remains a fertile ground for investment. We will continue to improve the first-class business environment that is market-oriented, law-based and internationalized, and are willing to share with the majority of foreign-funded enterprises the huge opportunities contained in China's development of new quality productive forces and the promotion of Chinese-style modernization, and are happy to see foreign-funded enterprises grow together with China's economy.