In an unusual move, the committee will also formulate a “vision” for 2035, the year for which China has originally set a deadline to “achieve socialist modernization”.
The meeting is expected to run for four days and if any information will be released before the release on Thursday, the committee’s decision will be announced at that time. The Central Committee is made up of more than 200 delegates, who are elected by party representatives to their National Congress every five years.
Richard McGregor, a senior fellow at the Lowy Institute in Sydney, who focuses on the internal workings of the Communist Party of China, said that whoever wins the White House on 3 November is a “massive economic recovery job” in 2021. In Beijing, the Chinese government’s work on rebuilding the economy was well underway.
“At the moment, China has a great platform compared to the US and Europe, on which they can build this new policy framework because they have Kovid-19 under control,” McGregor said. “It benefits them a lot.”
The fifth plenary session of the Central Committee has historically been used as an opportunity to discuss the country’s next five-year plan. However, this year’s meeting took place during a period of great global uncertainty, with many countries experiencing economic and social upheavals.
Since then, the US and Europe have seen new outbreaks of coronovirus, with major governments intending to reimpose sanctions to prevent the spread of the disease, which has killed more than 1.1 million people worldwide Have taken
In comparison, China, where the outbreak first emerged, has brought the virus under control within its borders through mass targeted testing and extensive testing, making life normal in most parts of the country.
McGregor said China’s next five-year plan was likely to focus on pushing for “self-sufficiency” by Beijing, an attempt by Beijing to limit its dependence on the US and other countries.
The Chinese leader and his top officials have been emphasizing domestic innovation and production for years, but with additional insistence in opposition to efforts by the Trump administration to limit the sale of American technology to Chinese companies.
McGregor said Xi and the Central Committee are trying to establish “in concrete form” a plan that limits America’s influence on China’s economy and could harm Washington.
“It may take some time, as China is still lagging behind in some areas of technology, but they will aim to consolidate their edge in areas such as 5G and artificial intelligence and hold on to areas like semiconductors,” he said.