Engineers assemble drones at a factory in Liaoning, capital of Northeast China's Shenyang Province on May 14, 2024. As part of the efforts to develop new quality productive forces, local authorities in Liaoning have been seizing opportunities to develop the low-altitude economy and speed up the construction of leading intelligent unmanned system industrial bases. Photo: VCG

 

The third plenary session of the 20th Communist Party of China (CPC) Central Committee, which will map out a blueprint for China's reform and opening-up as well as achieving Chinese modernization, is consequential for the world as it will showcase an independent development path for the Global South and bring more development opportunities for the world, a Thai scholar said on Wednesday.  

"The third plenum will elaborate China's strategic plan for the development of new quality productive forces. I will pay attention to the plan because the new quality productive forces, as represented by new-energy vehicles, have risen to be a highlight of high-quality cooperation between China and Thailand, and further collaboration will inject strong impetus into Thailand's economy and ASEAN's development," Wirun Phichaiwongphakdee, director of the Thailand-China Research Center of the Belt and Road Initiative, told the Global Times.

He also expected China to provide more chances for high-tech cooperation through global platforms, such as the Belt and Road Initiative. 

The third plenum runs from Monday to Thursday. According to the Xinhua News Agency, the gathering will primarily examine issues related to further comprehensively deepening reform and advancing Chinese modernization.

"China's reforms are gradual and aim to improve the people's well-being. Compared with certain other countries, China's reforms are more scientific, often starting with pilot programs before broader implementation," Wirun said. 

He stressed that while China's reform efforts have already yielded substantial results, the country's march toward Chinese modernization will also provide the Global South with a development path that is entirely different from the Western model and put equality and peaceful growth at the core.

The Chinese economy achieved an average annual growth rate of 6.1 percent from 2013 to 2023, ranking among the top in the world and contributing over 30 percent to global economic growth each year, according to the National Bureau of Statistics. In the first half of 2024, China's GDP expanded 5 percent to reach 61.68 trillion yuan ($8.49 trillion).