All of this will lay a solid foundation for building China into a great modern socialist country in all respects by the middle of this century, it noted.

The reform tasks laid out in the resolution shall be completed by the time the People's Republic of China celebrates its 80th founding anniversary in 2029, said the communique.

The Central Committee made systematic plans for further deepening reform comprehensively, it added.

In building a high-standard socialist market economy, the role of the market must be better leveraged, with a fairer and more dynamic market environment to be fostered and resource allocation to be made as efficient and productive as possible. Restrictions on the market will be lifted while effective regulation will be ensured to better maintain order in the market and remedy market failures, said the communique.

In promoting high-quality development, the communique urged deepening supply-side structural reform, improving incentive and constraint mechanisms for promoting high-quality development, and creating new drivers and strengths for realizing growth.

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