20th National Congress

The presidium of the 20th National Congress of the Communist Party of China (CPC) opened on Oct. 16, 2022, the congress will run from Oct. 16 to 22.

President Xi Jinping attended the meeting and delivered an important speech on Oct.16, 2022.

Based on the report, Xi said:

"To build a modern socialist country in all respects, we must, first and foremost, pursue high-quality development, We must fully and faithfully apply the new development philosophy on all fronts, continue reforms to develop the socialist market economy, promote high-standard opening up, and accelerate efforts to foster a new pattern of development that is focused on the domestic economy and features positive interplay between domestic and international economic flows.”

Key takeaways from Xi’s address based on reports include the following:

Domestic Economic policy

“Accelerate efforts to foster a new pattern of development that is focused on the domestic economy and features positive interplay between domestic and international economic flows.” Efforts will be made to boost the dynamism and reliability of the domestic economy while engaging at a higher level in the global economy.

Modernize the industrial system

“With measures to advance new industrialization, and boost China's strength in manufacturing, product quality, aerospace, transportation, cyberspace, and digital development.” 

Foreign policy

"Let us all join forces to meet all types of global challenges."

“China adheres to the Five Principles of Peaceful Coexistence in pursuing friendship and cooperation with other countries. It is committed to promoting a new type of international relations, deepening and expanding global partnerships based on equality, openness, and cooperation, and broadening the convergence of interests with other countries.”

Economic globalization

It is committed to working with other countries to foster an international environment conducive to development and create new drivers for global growth, China plays an active part in the reform and development of the global governance system. China upholds true multilateralism, promotes greater democracy in international relations, and works to make global governance fairer and more equitable.”

National reunification

“Complete reunification of our country must be realized, and it can, without doubt, be realized!"

"We have always shown respect and care for our Taiwan compatriots and worked to deliver benefits to them. We will continue to promote economic and cultural exchanges and cooperation across the Strait."