The Central Committee, the highest authority of the Communist Party of China, held the 19th 5th General Meeting, the so-called'Pixel Session', in Beijing today (26th).
The Central Committee consists of more than 200 members of the Central Committee and 170 candidates representing 90 million Communist Party members.
In this four-day previous five-year session, the '14th Five-Year Economic Development Plan, which will be applied from next year to 2025, is decided.
The basic framework of the plan is a strategy of'double cycle focusing on domestic demand'.
Internally, the key is to create a self-contained domestic economy by promoting domestic demand, improving the industrial structure, and reforming the income distribution system, and securing core cutting-edge technologies by attracting foreign capital from the fourth industrial sector while continuing to reform and open externally.
In particular, a huge investment is expected to increase technology independence amid the conflict with the United States.
[Xi Jinping/President of China: We are facing a change that has not existed for a hundred years. In this situation, we must go a path to self-reliance based on independent innovation.]
It is expected that the'Communist Party Central Committee Ordinance' will also be endorsed in the previous 5th session.
The ordinance uses Xi Jinping's new era of Chinese socialist ideology as a guide, and contains the content of strengthening the power of the general secretary.
It is analyzed that this will reinforce the single leadership system of President Xi Jinping, and will serve as the basis for justifying Xi's long-term power, along with the long-term economic goals for 2035 to be addressed in the previous five.