The CPC has drawn up a two-stage development plan for the period from 2020 to the middle of the 21st century to develop China into a "great modern socialist country."

In the first stage from 2020 to 2035, the CPC will build on the foundation created by the moderately prosperous society with a further 15 years of hard work to see that socialist modernization is basically realized.

In the second stage from 2035 to the middle of the 21st century, the CPC will, building on having basically achieved modernization, work hard for a further 15 years and develop China into a great modern socialist country that is prosperous, strong, democratic, culturally advanced, harmonious, and beautiful.

The principal contradiction facing Chinese society has evolved to be that between unbalanced and inadequate development and the people's ever-growing needs for a better life.

Now the needs to be met for the people to live a better life are increasingly broad. Not only have their material and cultural needs grown, their demands for democracy, rule of law, fairness and justice, security, and a better environment are increasing.

ECONOMY

China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development.

In developing a modernized economy, the country must focus on the real economy. China will support state capital in becoming stronger, doing better, and growing bigger, turn Chinese enterprises into world-class, globally competitive firms.

China will leverage the fundamental role of consumption in promoting economic growth and improve the framework of regulation underpinned by monetary policy and macro-prudential policy, and see that interest rates and exchange rates become more market-based.