Further deepening of reform and opening-up on way to Chinese modernization stressed by the Third Plenary Session of the 20th Communist Party of China Central Committee will create more opportunities of joint development for the rest of the world and offer valuable experiences, according to analysts.

The session in Beijing from July 15-18 adopted a resolution on further deepening reform comprehensively to advance Chinese modernization and released its communique late Thursday.

“The thorough and scientific resolution coming out of the latest plenum showed that once again China’s process of reform and opening-up is constant” in past decades, said Stephen Perry, honorary president of The 48 Group Club, a London-based non-profit organization promoting trade between China and the United Kingdom.

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Henry Chan, a visiting distinguished senior fellow at the Cambodian Center for Regional Studies, appreciated the positive overall tone of the communique. “Reaffirming the commitment to stay open under the current less-than-benign international geopolitical environment highlights the Chinese realization of the value of opening-up,” he said.

Chan said the CPC’s pledge to ensure effective implementation of macro policies, increase domestic demand and foreign trade, and promote green and low-carbon development will benefit all, and China’s move to extend its visa-free policy to more international travelers is another sign of opening-up.

Describing opening-up as a "defining feature of Chinese modernization," the communique said that the Party will steadily expand institutional opening-up, deepen the foreign trade structural reform, further reform the management systems for inward and outward investment, improve planning for regional opening up, and refine the mechanisms for high-quality cooperation under the Belt and Road Initiative.

Perry in London said, facing the growing protectionism of the external environment, “the emphasis on opening-up in the resolution means that China will continue to modernize and do business with those people who want to do business with them.”

“China's leaders know where they're going, and where they're going to work best. China is now doing this by creating a modern society, new innovative sciences, and other things beyond the achievement of any other country. At the end of it, it's to create a world where everybody can sit at the table together,” Perry said.

Charles Onunaiju, director of the Centre for China Studies in Abuja, Nigeria, said the further reform will maintain the momentum of China’s economic growth for high-quality development and is a boon to global recovery, where it is commonly understood that China is playing and will continue to play a pivotal role and offer opportunities for others.

The implication is “China would remain a solid partner to the world as openness, inclusiveness, shared responsibility, and shared prosperity is the common theme to which the majority of humanity gravitates,” said Onunaiju.

Mher Sahakyan, founder and director of the China-Eurasia Council for Political and Strategic Research in Armenia, also noted China’s opening-up progress initiated during the Third Plenum of the 11th CPC Central Committee in 1978.

He said that by paying attention to financing research and development, innovation, and technology, China’s economic reform has made the country the world’s second-largest economy by GDP and the largest economy by purchasing power parity.

Considering China’s experience, Asian countries can pay more attention to developing transport infrastructure and linking to global supply chains, and developing their universities, said Sahakyan.

He noted that more attention can be given to “China's experience with modernization also tells Asian states about the importance of growing high-technology production capabilities and digitalization of the economy and daily life,” said Sahakyan.

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In terms of promoting high-quality development, Chan said it is also noteworthy that the communique emphasized the need to develop new quality productive forces in line with local conditions.

James Chin, professor of Asian Studies at the University of Tasmania in Australia, said China’s quest to promote new quality productive forces, apart from its own drive for high-end modernization, can also serve as countermoves against negative moves by the United States.

He said the biggest challenge facing China now is the unilateral trade tariffs, sanctions and de-risking measures of the United States. It is quite clear the US has been trying “to suppress the Chinese growth,” said Chin.

Contact the writers at kelly@chinadailyapac.com