China maps out 300 reform measures for next five years

Xi says aim is to raise innovation capacity for high-quality development

- Joyce ZK Lim and Yew Lun Tian

China has released a major political document outlining some 300 reform measures to be implemented over the next five years, as it transitions towards a more sustainable and innovation-driven growth model amid pressing economic and geopolitical headwinds.

The document, a result of the third plenary meeting of the Communist Party's central committee held from July 15 to 18, outlined economic, social and political reform measures in broad strokes - as is typical of such documents with policies and implementation to be rolled out later.

A key focus of the swathe of reforms involved numerous measures to support a national drive for "new quality productive forees" - a buzzword coined by President Xi Jinping in 2023 that describes growth driven by industrial upgrading and science and technology innovation.

The over 22,000-word document, released on July 21, called for education system reforms to better nurture talent in strategic industries, improvements in the scheme to attract overseas talent, and a stronger nexus between universities and industries which would help focus research efforts and commercialise such efforts more seamlessly.

It also outlined roles for both state-owned firms and companies in the private sector in the innovation drive.

State-owned enterprises would have "improved institutional arrangements" to promote original innovation, the document said, while "capable private enterprises" would be supported to take the lead in undertaking major national technological tasks and enjoy more access to national scientific research infrastructure.

In remarks explaining the reforms, Mr Xi said these are needed as China's innovation capacity falls short of that required for highquality development.