The Communist Party of China will kick off a significant meeting on Monday, potentially shaping the nation’s path for the next decade. This gathering, dubbed a “defining moment” for President Xi Jinping’s rule, mirrors the crucial 2013 meeting that outlined his reform vision.

Strategic Economic Discussions

The third plenum of the 20th Central Committee, involving over 370 members, aims to address China’s economic challenges. It will review achievements under Xi’s leadership and set goals for 2035, laying the groundwork for the “great rejuvenation” by 2049. The meeting is expected to close with a communique summarizing key decisions, followed by a detailed party document.

Balancing Domestic and Global Pressures

This event comes as Beijing seeks to reassure foreign and domestic businesses about its economic future amidst demographic issues, slow growth, and local government debts. The meeting also follows a recent NATO summit that criticized China as a “decisive enabler” of Russia in Ukraine.

Internal Party Dynamics

Observers will watch how the plenum handles corruption inquiries against several Central Committee members and the potential inclusion of Dong Jun in the Central Military Commission.

Security Measures and State Media Support

In the lead-up to the event, state media have praised Xi’s leadership, while security measures have been tightened to ensure stability. Neil Thomas of the Asia Society Policy Institute notes that Xi will likely push for party control, technological self-reliance, and financial de-risking, with possible pro-business policies in high-tech areas.

Future Policy Expectations

Analysts suggest waiting for the next government work report in March and the upcoming five-year plan for detailed policy directions. The plenum will provide a blueprint for these future plans, crucial for understanding the major policy shifts.