Li's Singapore Visit - Zhong Sheng on China-US Talks - Xi's Concept of 'Political Ability' Goes beyond 'Western Competency Model' on Governance - Commentary on 4th 15th FYP's Tech Agenda
Here are the key reports and articles that I found noteworthy from the People’s Daily’s edition from Monday, October 27, 2025.
Page 1: Let’s begin with Li Qiang’s visit to Singapore. Sunday’s paper carried the report on Li’s meeting with Singaporean Prime Minister Lawrence Wong. Xinhua says:
“Noting that Xi’s meeting with Wong in June in Beijing charted the course for the development of bilateral relations in the next stage, Li said China stands ready to work with Singapore to follow the strategic guidance of the leaders of the two countries, uphold the original aspirations for the establishment of diplomatic ties, and carry forward traditional friendship. Li called on both sides to consolidate political mutual trust, expand pragmatic cooperation, and continuously deepen bilateral relations to better serve their modernization drives and make greater contributions to regional peace, stability and development.”
“Li said that the just-concluded fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC) deliberated over and adopted the recommendations for formulating the 15th Five-Year Plan, providing top-level design and strategic planning for China’s development over the next five years and beyond. He noted that China is willing to strengthen development alignment with Singapore, make full use of bilateral cooperation mechanisms, maintain the sound momentum of two-way trade and investment growth, further enhance and expand key cooperative projects such as the Suzhou Industrial Park and the Tianjin Eco-City, deepen cooperation in areas such as digital economy, green economy, artificial intelligence, new energy and biomedicine, and actively explore third-party cooperation. China welcomes more Singaporean enterprises to invest in China and hopes that the Singaporean side will continue to provide support for Chinese enterprises operating in Singapore, said the premier. He also called on the two countries to strengthen exchanges of experience in areas such as social welfare and employment promotion, work together for better development through mutual learning, and deepen cooperation in culture, tourism, education, media and youth exchanges to continuously enhance mutual understanding and friendship.”
“At present, the multilateral trading system is suffering severe challenges. The Chinese side is willing to work together with the Singaporean side to implement the major global initiatives put forward by President Xi Jinping, strengthen communication and coordination within mechanisms such as the UN, oppose unilateralism and protectionism, safeguard free trade and economic globalization, and promote the development of the international order toward a more just and reasonable direction.” 当前，多边贸易体制受到严重冲击，中方愿同新方一道，落实习近平主席提出的重大全球倡议，加强在联合国等机制的沟通协作，反对单边主义、保护主义，维护自由贸易和经济全球化，推动国际秩序朝着更加公正合理的方向发展.
As per the Chinese readout, among other things, Wong said that “the Singaporean government adheres to the one-China principle and firmly opposes ‘Taiwan independence’...Singapore is full of confidence in China’s development and is willing to continue investing in China. Singapore supports the Global Development Initiative proposed by President Xi and is willing to strengthen multilateral coordination with China, safeguard free trade, adhere to multilateralism, and make unremitting efforts to promote stability and prosperity in the region and the world at large.” 新加坡政府坚持一个中国原则，坚决反对“台独”...新方对中国发展充满信心，愿继续投资中国。新方支持习近平主席提出的全球发展倡议，愿同中方加强多边协作，维护自由贸易，坚持多边主义，为促进地区乃至世界的稳定繁荣不懈努力.
The two sides inked deals in areas such as digital economy, green development, information and communication, transportation, food safety, emergency management, and third-party cooperation.
In today’s paper, there’s a report on Li meeting Singapore’s Acting President Eddie Teo. Li told him that the “world is entering a new period of turbulence and transformation.” In this environment, “China stands ready to strengthen high-level exchanges and strategic communication with Singapore, support each other’s core interests and major concerns, deepen political mutual trust, expand mutually beneficial cooperation, and promote the sustained and steady development of China-Singapore relations to better benefit both countries, the region, and the world.” 面向未来，中方愿同新方加强高层交往和战略沟通，支持彼此核心利益和重大关切，深化政治互信，拓展互利合作，推动中新关系持续稳健发展，更好造福两国、地区乃至世界.
Li added that the recently adopted recommendations following the Fourth Plenum, provide “important opportunities for future cooperation between China and Singapore. The Chinese side is willing to work together with the Singaporean side to tap the potential of economic and trade cooperation, expand cooperation in emerging areas such as the digital economy, green development, and artificial intelligence, and add more momentum to each side’s modernization process. China welcomes more Singaporean companies to continue to delve deeper into the vast Chinese market and share in the great development opportunities. Both sides should enhance exchanges on development experience and deepen cooperation in the field of people-to-people and cultural affairs. The Chinese side is willing to work closely with the Singaporean side in communication and coordination within multilateral mechanisms, jointly safeguard multilateralism and free trade, and promote the development of an equal and orderly multipolar world and an economic globalization that is inclusive and beneficial to all. The Chinese side is also willing to work together with Singapore and other ASEAN countries to build a good version 3.0 of the China–ASEAN Free Trade Area and join hands to achieve greater development.” 李强指出，前不久，中共二十届四中全会审议通过了“十五五”规划建议，为中新未来合作提供了重要机遇。中方愿同新方发掘经贸合作潜力，拓展数字经济、绿色发展、人工智能等新兴领域合作，为各自现代化进程增添更多动力。中方欢迎更多新加坡企业继续深耕中国大市场，分享发展大机遇。双方要增进发展经验交流，深化人文领域合作。中方愿同新方密切在多边机制的沟通协调，一道维护多边主义和自由贸易，推进平等有序的世界多极化、普惠包容的经济全球化。中方也愿同新加坡等东盟国家一道，建设好中国—东盟自贸区3.0版，携手实现更大发展.
While in Singapore, Li also attended a China-Singapore business roundtable. The report on this is available on Page 2 today. Xinhua says:
Li said that “China will firmly promote high-level opening-up, further ease market access, continuously optimize business environment and actively address enterprises’ reasonable concerns.”
“Li said that over the past 35 years, through the joint efforts of China and Singapore, the friendly cooperation between the two countries has achieved significant progress and yielded fruitful results. Li said practice has fully demonstrated that the development of each country presents an important opportunity for the other. As long as both sides adhere to mutual respect, mutual trust, opening-up and cooperation, they can share prosperity and jointly create a brighter future through mutual accomplishment, he added.”
“The premier said that since last year, the mutual visa exemption agreement between China and Singapore has come into effect, and their free trade agreement has been further upgraded, presenting new and important opportunities for the cooperation and development of the two countries. Looking ahead, Li said, China-Singapore cooperation will continue to improve and upgrade and take on new characteristics. This not only requires joint efforts of the business communities of both countries, but also will bring new development opportunities to enterprises of both countries and around the world, he added.”
He then made three proposals:
“First, Li called on both sides to upgrade cooperation from ‘complementary elements’ to ‘collaborative innovation’. China’s complete industrial system, abundant application scenarios and a growing number of cutting-edge scientific and technological achievements, combined with Singapore’s highly internationalized innovation ecosystem and advanced financial services, can unleash even stronger dynamics for innovative development, he said.
Second, Li encouraged both sides to upgrade collaboration from ‘bilateral cooperation’ to ‘tripartite cooperation’. China supports companies from both countries in exploring more flexible cooperation approaches, make full use of platforms like new land-sea corridors to actively engage with regions such as ASEAN and Africa, and jointly explore a broader market space, he said.
Third, Li urged both sides to transcend from ‘participating in global division of labor’ to ‘jointly leading the formulation of rules.’ China and Singapore can take more proactive and constructive actions to strengthen the alignment of standards and rules in emerging fields such as digital and green sectors, and actively lead the development and transformation of the global industrial system, he added.”
Next, there’s a commentary on understanding the spirit of the fourth plenum. This one focuses on the theme of new-quality productive forces. The piece begins by stating that “high-quality development is the hard truth of the new era” 高质量发展是新时代的硬道理 and that the fourth plenum has “identified the promotion of high-quality development as the theme for economic and social development during the 15th FYP period.”
It says:
Developing new-quality productive forces is an intrinsic requirement and important focus for promoting high-quality development. From the practices of actively cultivating and expanding new quality productive forces during the 14th FYP period, we can more deeply understand why in the 15th FYP period we must continue to take promoting high-quality development as the theme and give greater strategic prominence to the development of new quality productive forces tailored to local conditions. 发展新质生产力是推动高质量发展的内在要求和重要着力点。从“十四五”时期积极培育壮大新质生产力的实践中，我们更能深刻理解为什么“十五五”时期要继续以推动高质量发展为主题，把因地制宜发展新质生产力摆在更加突出的战略位置.
The development structure is becoming more optimised. Traditional industries are transforming and upgrading, emerging industries are being nurtured and strengthened, and future industries are being proactively planned. The number of high-tech enterprises in China has increased from 270,000 in 2020 to over 500,000. New business forms and models are booming, advanced industries are clustering, and cutting-edge fields are rapidly emerging. The momentum of development is becoming stronger. Over 230 high-quality smart factories and 1,260 5G factories have been built, more than 60 national advanced manufacturing clusters have been formed in emerging industries, and over 400 national-level ‘little giants’ specializing in AI have been established. Scientific and technological innovation is continuously giving rise to, leading, and strengthening new quality productive forces, igniting new engines for high-quality development. The underlying momentum of development is becoming more distinct. During the first four years of the 14th FYP period, energy consumption per unit of GDP decreased by 11.6%. The world’s largest clean power generation system has been established in China, with 1 kilowatt-hour of every 3 kilowatt-hour of electricity consumed by society being green electricity. Carbon reduction, pollution reduction, green expansion, and growth are being promoted in a coordinated manner, and the green and low-carbon transition is progressing steadily.” 看发展结构，更加优化。传统产业转型升级，新兴产业培育壮大，未来产业前瞻布局，我国高新技术企业数量从2020年的27万家增长至50多万家，新业态新模式蓬勃兴起，先进产业聚链成群，前沿领域加快孕育。看发展动能，更加强劲。累计建成230多家卓越级智能工厂和1260家5G工厂，培育形成60多个新兴产业领域国家先进制造业集群，国家级人工智能专精特新“小巨人”企业超400家……科技创新不断催生、引领和壮大新质生产力，点燃高质量发展新引擎。看发展底色，更加鲜明。“十四五”时期前4年单位国内生产总值能耗累计降低11.6%，建成全球最大清洁发电体系，全社会用电量中每3千瓦时电就有1千瓦时绿电……降碳、减污、扩绿、增长协同推进，绿色低碳转型步履坚实。
In planning and deploying economic and social development for the 15th FYP period, the plenary session clearly identified adhering to high-quality development as a key principle that must be adhered to, prioritising achieving significant results in high-quality development as a primary objective. Currently, whether addressing the still prominent issues of unbalanced and inadequate development, laying a more solid foundation for the basic realisation of socialist modernisation, or effectively addressing the various uncertainties brought about by changes in the external environment, we must continue to firmly grasp the theme of high-quality development, adhere to taking economic construction as the center, fully, accurately, and comprehensively implement the new development philosophy, achieve effective qualitative improvement and reasonable quantitative growth, and promote sustained and healthy economic development and comprehensive social progress. 谋划部署“十五五”时期经济社会发展，全会把坚持高质量发展明确为必须遵循的一条重要原则，把高质量发展取得显著成效放在主要目标的首位。当前，无论是破解仍然突出的发展不平衡不充分问题，还是为基本实现社会主义现代化奠定更加坚实的基础，抑或是有效应对外部环境变化带来的各种不确定性，都要求我们必须继续牢牢扭住高质量发展这个主题，坚持以经济建设为中心，完整准确全面贯彻新发展理念，实现质的有效提升和量的合理增长，推动经济持续健康发展和社会全面进步.
How should high-quality development be promoted? The most important thing is to accelerate high-level self-reliance and self-strengthening in science and technology, actively develop new-quality productive forces, and make substantive and breakthrough progress in promoting scientific and technological innovation, accelerating the cultivation of new drivers of growth, and facilitating the optimisation and upgrading of the economic structure. The plenary session proposed seizing the historical opportunity of the new round of scientific and technological revolution and industrial transformation, coordinating the building of a strong country in education, science and technology, and talent, enhancing the overall efficiency of the national innovation system, comprehensively strengthening independent innovation capability, seizing the commanding heights of technological development, and continuously generating new-quality productive forces. This important arrangement will scientifically guide the cultivation of new drivers for the development of new quality productive forces and continuously open up new space and shape new advantages for high-quality development.” 如何推动高质量发展？最重要的是加快高水平科技自立自强，积极发展新质生产力，在推动科技创新、加快培育新动能、促进经济结构优化升级上取得实质性、突破性进展。全会提出，抓住新一轮科技革命和产业变革历史机遇，统筹教育强国、科技强国、人才强国建设，提升国家创新体系整体效能，全面增强自主创新能力，抢占科技发展制高点，不断催生新质生产力。这一重要部署，必将科学指引培育发展新质生产力的新动能，为高质量发展不断拓展新空间、塑造新优势.
“Scientific and technological innovation is the ‘key variable’ in the profound changes unseen in a century taking place around the world, and Chinese-style modernisation must be supported by scientific and technological modernisation. In developing new-quality productive forces, scientific and technological innovation is the core element. To study and implement the spirit of the plenary session, we must take scientific and technological innovation as the guide and the real economy as the foundation, build a modern industrial system, and accelerate the comprehensive green transformation of economic and social development. We must strengthen original innovation and tackle key core technologies, promote deep integration between scientific and technological innovation and industrial innovation, advance the coordinated development of education, science and technology, and talent development, and deeply advance the construction of Digital China to solidify the fundamental and strategic supports for the development of new-quality productive forces. At the same time, we must also deeply realise that developing new-quality productive forces requires certain endowment conditions and must fully consider practical feasibility. We must firmly grasp the requirement of ‘adapting measures to local conditions’, work in a scientific, rational, and pragmatic manner, selectively promote the development of new industries, new models, and new drivers, and avoid rushing headlong into things.” 科技创新是世界百年变局的“关键变量”，中国式现代化要靠科技现代化作支撑。发展新质生产力，科技创新是核心要素。学习贯彻全会精神，要以科技创新为引领、以实体经济为根基，建设现代化产业体系，加快经济社会发展全面绿色转型。要加强原始创新和关键核心技术攻关，推动科技创新和产业创新深度融合，一体推进教育科技人才发展，深入推进数字中国建设，筑牢新质生产力发展的基础性、战略性支撑。同时也要深刻认识到，发展新质生产力需要具备一定禀赋条件，必须充分考虑现实可行性。要牢牢把握“因地制宜”的要求，科学理性、实事求是地开展工作，有选择地推动新产业、新模式、新动能发展，防止一哄而上.
Next, there’s a detailed report on the 18th Session of the 14th NPCSC. Xinhua says:
A report on the inspection of the food security law’s implementation was heard at the meeting. The report introduced the overall situation regarding the implementation of the law, as well as various challenges and problems. It proposed measures for more comprehensive and effective implementation, including the prompt initiation of a comprehensive revision of the law.
Lawmakers reviewed a report on the inspection of the Forest Law’s implementation, which highlighted notable progress in forest resource conservation and ecological restoration in China. The report also identified key challenges and issues in enforcing the law, offering recommendations to strengthen its full and effective implementation, including enhancing both the quantity and quality of forest resources.
The meeting also heard a report on financial work, covering key developments and outcomes since November 2024, along with the current economic and financial challenges. The report outlined the next steps, including the implementation of a moderately loose monetary policy, further strengthening and refining financial regulation, and focusing on providing high-quality financial services.
This report was delivered by PBOC Governor Pan Gongsheng. As per the PD report, Pan “proposed the following considerations for the next steps: implement and refine in detail the moderately loose monetary policy, creating a suitable monetary and financial environment for consolidating and expanding the momentum of economic recovery and improvement; further strengthen and perfect financial supervision, continuously enhancing supervision quality and effectiveness; highlight key directions of financial services for the real economy, focussing on providing high-quality financial services; continuously deepen supply-side structural reform of finance; advance high-level two-way opening of finance, safeguarding national financial security; prevent and resolve financial risks in key areas, holding fast to the bottom line of preventing systemic financial risks” 会议听取了中国人民银行行长潘功胜受国务院委托作的关于金融工作情况的报告。报告介绍了2024年11月以来金融工作主要进展及成效、当前经济金融形势和问题挑战，提出下一步工作考虑：落实落细适度宽松的货币政策，为巩固拓展经济回升向好势头营造适宜的货币金融环境；进一步加强和完善金融监管，不断增强监管质效；突出金融服务实体经济重点方向，着力提供高质量金融服务；持续深化金融供给侧结构性改革；推进金融高水平双向开放，维护国家金融安全；防范化解重点领域金融风险，守住不发生系统性金融风险的底线.
The meeting reviewed three reports concerning the management of state-owned assets in 2024. These included the State Council’s report on the management of state-owned assets in 2024; a report on the management of state-owned assets of enterprises (excluding financial enterprises) in 2024, delivered by Guo Tingting, Vice Minister of Finance; and a report on the supervision and research of the management of state-owned assets of enterprises (excluding financial enterprises) in 2024 by Xu Hongcai, Vice Chairman of the Financial and Economic Affairs Committee of the NPC and Director of the Budget Work Committee of the NPCSC.
The meeting heard a report on the execution of criminal punishments, detailing the main efforts and achievements of the judicial and law enforcement institutions since 2021. The report also addressed the challenges currently in enforcing criminal sentences and proposed measures to improve its efficiency and integrity.
Lawmakers also reviewed a report from the head of the Supreme People’s Court on maritime trials in the people’s courts, as well as a report from the procurator-general of the Supreme People’s Procuratorate on the supervision of the execution of criminal punishment by the people’s procuratorates.
Finally, there’s a report informing that as per the National Energy Administration, China’s cumulative installed power generation capacity had reached 3.72 billion kilowatts by the end of September 2025, marking a year-on-year increase of 17.5%.
Solar power generation capacity amounted to 1.13 billion kilowatts, surging 45.7 percent compared to the same period last year.
Wind power generation capacity reached nearly 582 million kilowatts by the end of September, rising 21.3 percent year-on-year.
Page 2: There’s a report on the economic and trade talks between the Chinese and American sides in Kuala Lumpur. Vice Premier He Lifeng led the Chinese delegation, meeting with US Treasury Secretary Scott Bessent and USTR Jamieson Greer.
Guided by the important consensus reached in previous phone calls between the two heads of state this year, the two sides conducted candid, in-depth, and constructive discussions on key economic and trade issues of mutual concern, including the US Section 301 measures on China’s maritime logistics and shipbuilding industries, the extension of the reciprocal tariff suspension period, fentanyl tariffs and law enforcement cooperation, agricultural goods trade, and export controls. They reached a basic consensus on arrangements to address their respective concerns. The two sides agreed to further finalize specific details and complete their respective domestic approval procedures. 双方以今年以来两国元首历次通话重要共识为引领，围绕美对华海事物流和造船业301措施、延长对等关税暂停期、芬太尼关税和执法合作、农产品贸易、出口管制等双方共同关心的重要经贸问题，进行了坦诚、深入、富有建设性的交流磋商，就解决各自关切的安排达成基本共识。双方同意进一步确定具体细节，并履行各自国内批准程序.
He Lifeng said that the essence of China-US economic and trade relations is mutual benefit and win-win results. Cooperation benefits both sides, while conflict hurts both. Maintaining the stable development of China-US economic and trade relations serves the fundamental interests of both countries and their peoples, and also meets the expectations of the international community. Regarding differences and frictions arising in economic and trade cooperation, both sides should adhere to the principles of mutual respect, peaceful coexistence, and win-win cooperation, and find ways to properly address each other’s concerns through equal dialogue and consultation. The hard-won outcomes of China-US economic and trade consultations require joint efforts to safeguard them. He expressed hope that the US and China would work together to implement the important consensus reached in previous phone calls between the two heads of state and the outcomes of all economic and trade consultations held this year, further build mutual trust, manage differences, expand mutually beneficial cooperation, and elevate bilateral economic and trade relations to a higher level. 何立峰表示，中美经贸关系的本质是互利共赢，双方合则两利、斗则俱伤，维护中美经贸关系稳定发展，符合两国和两国人民的根本利益，也符合国际社会的期待。对于在经贸合作中出现的分歧和摩擦，双方应本着相互尊重、和平共处、合作共赢的原则，通过平等对话协商，找到妥善解决彼此关切的办法。中美经贸磋商成果来之不易，需要双方共同维护。希望美方与中方相向而行，共同落实好两国元首历次通话重要共识和今年以来历次经贸磋商成果，进一步积累互信、管控分歧，拓展互利合作，推动双边经贸关系不断迈向更高水平.
“U.S. Treasury Secretary Scott Bessent said talks on the sidelines of the ASEAN Summit in Kuala Lumpur had eliminated the threat of Trump’s 100% tariffs on Chinese imports starting November 1. Bessent also said he expects China to delay implementation of its rare earth minerals and magnets licensing regime by a year while the policy is reconsidered.”
Also this: “Bessent said he anticipates that a tariff truce with China will be extended beyond its November 10 expiration date, and that China will revive substantial purchases of U.S. soybeans after buying none in September while favouring soybeans from Brazil and Argentina.U.S. soybean farmers ‘will feel very good about what’s going on both for this season and the coming seasons for several years” once the deal’s terms are announced, Bessent told the ABC program This Week. Greer told the Fox News Sunday program that both sides agreed to pause some punitive actions and found ‘a path forward where we can have more access to rare earths from China, we can try to balance out our trade deficit with sales from the United States’.”
Also on the page is a Zhong Sheng commentary on China-US trade talks. The article paints a rather positive picture of the current dialogue. It seems like Beijing is satisfied with the outcomes, setting the stage for a meeting between Xi Jinping and Donald Trump. China’s export controls and its reduction in the purchase of agricultural products from the US have evidently proven to be significant leverage. The piece is also fairly complementary of Trump, which is again politically a very useful approach.
“the two sides engaged in candid, in-depth, and constructive discussions on a range of key economic and trade issues, reaching a basic consensus on arrangements to address their respective concerns. This hard-won achievement once again demonstrates that while it is normal for two major countries like China and the United States to have differences on economic and trade issues, by sitting down and engaging in equal-footed consultation and constructive approaches, they can properly address their differences and find a way to coexist.” 双方以今年以来两国元首历次通话重要共识为引领，围绕一系列重要经贸问题进行了坦诚、深入、富有建设性的交流磋商，就解决各自关切的安排达成基本共识。这一成果来之不易，也再次表明，中美两个大国在经贸问题上有分歧很正常，但只要坐下来谈，秉持平等协商和建设性立场，完全可以妥处分歧，找到正确相处之道.
This round of China-US trade consultations covered a wide range of topics, including US Section 301 measures against China in maritime logistics and shipbuilding, the extension of the reciprocal tariff suspension period, fentanyl tariffs and law enforcement cooperation, agricultural goods trade, and export controls. These are all important trade and economic issues of common concern to both sides and impact the stability of global supply chains. Both sides agreed to further finalise specific details and complete their respective domestic approval procedures. China and the US share long-standing interests and concerns on these issues, but neither side allowed them to obscure their focus. Instead, both adopted a problem-solving orientation, persisted in giving play to the role of the economic and trade consultation mechanism, and continued to carry out equal dialogue and consultation to create conditions for the ultimate resolution of issues. This helps alleviate various concerns and brings benefits to the development of both sides and to the world economy. 中美此轮经贸磋商议题广泛，涉及美对华海事物流和造船业301措施、延长对等关税暂停期、芬太尼关税和执法合作、农产品贸易、出口管制等，都是双方共同关心的重要经贸问题，也影响着全球产供链的稳定。双方同意进一步确定具体细节，并履行各自国内批准程序。在这些问题上，中美都有各自长期坚持的利益关切，但双方都没有被问题遮住视线，而是以解决问题为导向，坚持发挥经贸磋商机制作用，继续开展平等对话协商，为最终解决问题创造条件，有助于缓解各方担忧，为双方各自发展和世界经济带来了利好.
For China and the US to properly handle differences and advance cooperation, the most important thing is to implement the important consensus reached by the two leaders. Since the beginning of this year, President Xi Jinping and President Trump have held several phone calls, setting the tone and charting the course for improving and developing China-US relations. It is precisely under the guidance of this important consensus reached by the two leaders that the economic and trade teams of the two countries have held five rounds of consultations and reached a positive consensus. This fully demonstrates that to ensure that the two giant ships of China and the US move forward together without deviation or loss of speed, we must unwaveringly adhere to the strategic guidance of the two leaders, uncompromisingly implement the important consensus reached by the two leaders, and unwaveringly uphold the three principles of mutual respect, peaceful coexistence, and win-win cooperation. 中美妥处分歧、推进合作，最重要的是要落实好两国元首达成的重要共识。今年以来，习近平主席同特朗普总统多次通话，为改善和发展中美关系确定了基调、指明了方向。正是在两国元首重要共识指引下，双方经贸团队先后举行5轮磋商，达成积极共识。这充分表明，确保中美这两艘巨轮共同前行，不偏航、不失速，必须坚持两国元首的战略引领不动摇，坚持落实两国元首重要共识不打折扣，坚持相互尊重、和平共处、合作共赢三点原则不放松.
The essence of China-US economic and trade relations is mutual benefit and win-win results. Cooperation benefits both sides, while conflict harms both. This is a truth repeatedly verified by the development of bilateral relations over the past decades. Maintaining the overall stability and development of China-US economic and trade relations serves the fundamental interests of both countries and their peoples and meets the expectations of the international community. Looking back at these five rounds of consultations, each time positive signals emerged from the meeting venues, they brought valuable warmth to global markets. As a responsible major country, China has demonstrated the resolve and wisdom of a major power. It has consistently advocated that China and the US should demonstrate a broad perspective and take on greater responsibility, and has consistently opposed ‘decoupling’ and ‘disrupting supply chains’ to jointly maintain the security and stability of the global supply chain. The US has also repeatedly stated that ‘the US has no intention of decoupling from China’ and that ‘the US-China economic and trade relationship is the most influential bilateral relationship in the world.’ Given this consensus, both sides should work toward the same goal, cherish the outcomes of each consultation, continuously build mutual trust, manage differences, and ensure the steady and long-term development of China-US economic and trade relations on the track of mutually beneficial cooperation. 中美经贸关系的本质是互利共赢，双方合则两利、斗则俱伤，这是被过去数十年两国关系发展反复验证的真理。维护中美经贸关系稳定发展大局，符合两国和两国人民的根本利益，也符合国际社会的期待。回顾这5轮磋商，每一次从会场传出积极信号，都为全球市场带来宝贵暖意。中国作为负责任大国，展现了大国的定力和智慧，一直主张中美应展现大格局、大担当，一直反对“脱钩断链”，共同维护全球产供链安全稳定。美方也多次表示，“美方无意与中方脱钩”“美中经贸关系是全球最具影响力的双边关系”。既然有这个共识，双方就应相向而行，珍惜每一次磋商成果，不断积累互信、管控分歧，推动中美经贸关系在互利合作的轨道上行稳致远.
On its path to modernisation, China insists on expanding high-level opening up, which will provide more opportunities for countries around the world, including the US. The just-concluded Fourth Plenary Session of the 20th Central Committee of the CPC reviewed and approved the proposals for the 15th FYP, outlining China’s development blueprint for the next five years. From a long-term perspective, China’s pursuit of socialist modernization is a historical process of step-by-step progress and continuous development. By adhering to the principle of seeking progress while maintaining stability, China will be able to respond to any external challenges with the certainty of its own development. The plenary session proposed ‘steadily expanding institutional opening-up, upholding the multilateral trading system, expanding international circulation, promoting reform and development through opening-up, and sharing opportunities and common development with all countries in the world.’ The international community generally believes that in today’s uncertain times, China has demonstrated strategic foresight and strong stability through the formulation and implementation of medium- and long-term plans, injecting valuable certainty into global development. 在实现现代化的道路上，中国坚持扩大高水平开放，将为包括美国在内的世界各国提供更多机遇。刚刚闭幕的中共二十届四中全会审议通过“十五五”规划建议，擘画了未来5年中国发展蓝图。从长远视角看，中国实现社会主义现代化是一个阶梯式递进、不断发展进步的历史过程。坚持稳中求进，中国就能够以自身发展的确定性应对任何外部挑战。全会提出，“稳步扩大制度型开放，维护多边贸易体制，拓展国际循环，以开放促改革促发展，与世界各国共享机遇、共同发展”。国际社会普遍认为，在充满不确定性的当下，中国通过制定和实施中长期规划，展现出战略远见和强大稳定性，为全球发展注入了宝贵的确定性.
The results of the consultations were hard-won and require joint efforts from both sides to safeguard them. China and the US have the ability and wisdom to find a path of coexistence and shared prosperity. When dialogue replaces confrontation, and when cooperation transcends differences, China and the US can find appropriate ways to address each other’s concerns, promote the healthy, stable, and sustainable development of China–US economic and trade relations, and bring greater benefits to the peoples of both countries and the peoples of the world. 磋商成果来之不易，需要双方共同维护。中美两国有能力、有智慧找到共存共荣之道。当对话取代对抗，当合作超越分歧，中美就能找到妥善解决彼此关切的办法，推动中美经贸关系健康、稳定、可持续发展，为两国人民和世界各国民众带来更多福祉.
Page 3: Four brief reports are worth noting. First, there’s a report detailing activities held by China and North Korea to jointly commemorate the 75th anniversary of the Korean War.
Second, a report informs that in September a total of 28,640 violations of the Central Committees 8-point regulation were investigated and punished nationwide. These included 13,242 cases of formalism and bureaucracy and 15,398 cases of hedonism and extravagance. A total of 36,870 individuals, including 103 provincial-bureau level cadres, 1718 county-department level cadres, were criticised, educated, and punished. A total of 26,493 individuals were given Party disciplinary and administrative sanctions.
Third, a report informs that as per VAT data, in the first three quarters, the pace of developing new-quality productive forces in China accelerated.
The amount enterprises spent on purchasing research and development and technical services increased by 6.1% year-on-year, with R&D investment intensity continuing to increase; sales revenue of ‘little giant’ enterprises specialising in niche, sophisticated, and innovative fields increased by 8.2% year-on-year, an acceleration of 4.1 percentage points compared with 2024.
In the first three quarters, the sales revenue of the scientific research and technical services industry, an important position for integrating and transforming the value of technological elements, increased by 22.3% year-on-year; the sales revenue of intellectual property–intensive industries, which have a relatively high technological content, increased by 11.5% year-on-year.
In the first three quarters, the national high-tech industry and equipment manufacturing industry saw their sales revenues increase by 15.2% and 9% year-on-year, respectively. In particular, as the AI+ initiative has been implemented at an accelerated pace, sales revenue from integrated circuit manufacturing, robot manufacturing, and unmanned aerial vehicle manufacturing increased by 17%, 21.7%, and 69.8% year-on-year, respectively.
本报北京10月26日电 （记者王观）增值税发票数据显示：前三季度，我国新质生产力发展步伐加快，企业购进研发和技术服务金额同比增长6.1%，研发投入力度持续加大；专精特新“小巨人”企业销售收入同比增长8.2%，增速较2024年加快4.1个百分点。 科技资源要素流动更活跃。前三季度，作为科技要素整合和价值转化重要阵地的科研技术服务业销售收入同比增长22.3%，科技含量较高的知识产权密集型产业销售收入同比增长11.5%。 战略性新兴产业茁壮成长。前三季度，全国高技术产业、装备制造业销售收入同比分别增长15.2%、9%。特别是随着“人工智能+”行动加快实施，集成电路制造、机器人制造、无人机制造销售收入同比分别增长17%、21.7%和69.8%。
Finally, there’s a report on PBOC data on lending. It says:
As of the end of the third quarter, the balance of RMB-denominated loans from financial institutions stood at 270.39 trillion yuan, an increase of 6.6% year-on-year. In the first three quarters, RMB loans increased by 14.75 trillion yuan, with strong credit support directed toward key areas such as inclusive finance for small and micro businesses, agriculture-related sectors, and scientific and technological innovation.
As of the end of the third quarter, the balance of inclusive RMB loans for small and micro enterprises was 36.09 trillion yuan, a year-on-year increase of 12.2%, 5.6 percentage points higher than the growth rate of total loans
In the first three quarters, it increased by 3.15 trillion yuan. The balance of business operation loans to farm households with a single credit line below 5 million yuan was 9.92 trillion yuan, an increase of 346.5 billion yuan in the first three quarters. The balance of student loans was 294.4 billion yuan, up 41.1% year-on-year.
The balance of green loans in both domestic and foreign currencies stood at 43.51 trillion yuan, an increase of 17.5% from the beginning of the year, with an increase of 6.47 trillion yuan in the first three quarters.
The balance of agriculture-related loans in both domestic and foreign currencies was 53.4 trillion yuan, a 6.8% year-on-year increase, with an increase of 3.28 trillion yuan in the first three quarters. The balance of rural loans was 39.14 trillion yuan, up 7% year-on-year, increasing by 2.33 trillion yuan in the first three quarters. The balance of farm household loans was 18.54 trillion yuan, up 2.7% year-on-year, increasing by 345 billion yuan in the first three quarters. The balance of agricultural loans was 6.96 trillion yuan, up 8.3% year-on-year, increasing by 598.4 billion yuan in the first three quarters.
As of the end of Q3, there were 275,400 technology-based SMEs that had obtained loan support, with a loan access rate of 50.3%, 2.8 percentage points higher than the same period last year. The balance of loans to technology-based SMEs in both domestic and foreign currencies was 3.56 trillion yuan, a 22.3% year-on-year increase, 15.8 percentage points higher than the overall loan growth rate. There were 266,600 high-tech enterprises that had obtained loan support, with a loan access rate of 57.6%, 0.8 percentage points higher than the same period last year.
Page 9: There’s a full page article by Jiang Zexun, who is the vice president of the China Yan’an Cadre Academy in charge of daily work. The message delivered here is extremely important. The article says:
“General Secretary Xi Jinping has pointed out: ‘Among the various abilities that cadres need to do their work well, political ability ranks first.’ The important original and iconic concept of “political ability” adheres to the guidance of Marxist political views, fully utilises and deeply grasps the achievements of Marxist political theory and the laws of political practice, inherits and promotes China’s cultural tradition of ‘valuing the worthy and enabling the capable’; focuses on the Party’s political attributes, political mission, political goals, and political pursuits; and breaks through the theoretical framework of the Western modern ability-quality model (also called the ‘competency model’) that takes ‘knowledge, skills, self-concept, traits, and motivation’ as its basic categories. It pioneers the elevation of ability to the political level and the expansion of politics to the scope of ability, achieving a high degree of unity between ‘political morality’ and ‘governance talent’, and ‘good government’ and ‘good governance’ from the two dimensions of politics and ability. It enriches and develops Marxist political theory and Party-building theory, innovatively develops modern political theory and competency theory, and provides an entirely new entry point, support point, force exertion point, and foothold for strengthening the Party’s political construction, improving the Party’s comprehensive leadership capability, long-term governing capability, and national governance capability. This important original concept and iconic concept simultaneously possesses political height, theoretical depth, practical breadth, and cultural thickness, and has great significance whether at the political theory or political practice level or at the political construction or political civilisation level.” 习近平总书记指出：“在干部干好工作所需的各种能力中，政治能力是第一位的。”“政治能力”这一重要原创性概念标识性概念，坚持以马克思主义政治观为指导，充分运用、深刻把握马克思主义政治理论成果与政治实践规律，传承弘扬中国“尚贤使能”文化传统，聚焦党的政治属性、政治使命、政治目标、政治追求，突破以“知识、技能、自我概念、特质、动机”等为基本范畴的西方现代能力素质模型（也称“胜任力模型”）理论框架，开创性地把能力上升到政治层面、把政治拓展到能力范畴，从政治和能力两个维度上实现了“政德”与“治才”、“良政”与“善治”的高度统一，丰富发展了马克思主义政治理论和建党学说，创新发展了现代政治理论和能力素质理论，对于加强党的政治建设，提高党的全面领导能力、长期执政能力和国家治理能力，提供了一个全新的切入点、支撑点和发力点、落脚点。这个重要原创性概念标识性概念兼具政治高度、学理深度、实践广度、文化厚度，无论在政治理论还是政治实践层面，无论在政治建设还是政治文明层面，都具有重要意义.
As socialism with Chinese characteristics enters a new era, the improvement of political ability is especially important and urgent. In the new era, upholding and strengthening the Party’s overall leadership, to firmly supporting the Two Establishments and resolutely achieving the two safeguards, giving full play to the Party’s political advantages, and consolidating the Party’s leading and governing position, all require continuously enhancing the Party’s political leadership capacity. Only when the entire Party ‘has solid political ability’ can it ‘consciously maintain a high degree of unity with the Party Central Committee in thought, politics, and action, and under any time and any circumstance ‘not be daunted by floating clouds that obscure the eyes’ and ‘remain calm even as chaotic clouds fly past,’ always adhering to the correct political direction, always maintaining our Party’s political character, and always advancing along the path of socialism with Chinese characteristics, ensuring that the red country never changes its colour. 中国特色社会主义进入新时代，提高政治能力显得尤为重要而紧迫。新时代坚持和加强党的全面领导，坚定拥护“两个确立”、坚决做到“两个维护”，充分发挥党的政治优势，巩固党的领导地位、执政地位，要求不断提高党的政治领导力。全党“有了过硬的政治能力，才能做到自觉在思想上政治上行动上同党中央保持高度一致，在任何时候任何情况下都能‘不畏浮云遮望眼’、‘乱云飞渡仍从容’”，始终坚持正确政治方向，始终保持我们党的政治本色，始终沿着中国特色社会主义道路前进，确保红色江山永不变色.
Coordinating the strategic overall situation of the great rejuvenation of the Chinese nation and the great changes unseen in a century in the world, advancing the modernisation of the national governance system and governance capability, comprehensively advancing with Chinese-style modernisation the construction of a strong country and the great cause of national rejuvenation, requires maintaining political soberness at all times, maintaining political resolve, enhancing political skills, firmly grasping and fully utilising well the winning magic weapon for properly responding to risks and challenges, responding to complex situations, and winning strategic initiative, successfully carrying out the great struggle with many new historical characteristics, and pushing the ship of the Party’s and country’s cause development to brave wind and waves, sail steadily and go far. 统筹中华民族伟大复兴战略全局和世界百年未有之大变局，推进国家治理体系和治理能力现代化，以中国式现代化全面推进强国建设、民族复兴伟业，要求时刻保持政治清醒、保持政治定力、增强政治本领，牢牢掌握和充分用好妥善应对风险挑战、应对复杂局面、赢得战略主动的制胜法宝，成功进行具有许多新的历史特点的伟大斗争，推动党和国家事业发展的航船乘风破浪、行稳致远.
Implementing and carrying out the general requirements for Party building in the new era and the Party’s organisational line in the new era, deeply advancing the new great project of Party building in the new era, focusing on building a high-quality cadre contingent capable of shouldering the responsibility of national rejuvenation, requires using political construction to lead all aspects of Party building work, continuously improving the political judgment capability, political comprehension capability, and political execution capability of Party organizations at all levels and the broad masses of Party member cadres, unswervingly governing the Party strictly and comprehensively, and permanently preserving the Party’s advanced nature and purity. 贯彻落实新时代党的建设总要求和新时代党的组织路线，深入推进新时代党的建设新的伟大工程，着力建设堪当民族复兴重任的高素质干部队伍，要求以政治建设统领党的建设各项工作，不断提高各级党组织和广大党员干部的政治判断力、政治领悟力、政治执行力，坚定不移全面从严治党，永葆党的先进性和纯洁性.
The rest is fairly long, but in a nutshell, Jiang argues that the most fundamental aspect of political ability is political leadership capability. This refers to the ability to correctly formulate and effectively implement the Party’s political program, policies, and strategic goals. It also covers domains like political command and guidance ability, political absorption and cohesion ability, overall coordination ability, planning and decision-making ability, and governance capability.
There are three critical aspects of political ability, which Jiang identifies as:
Political judgement, which is the starting point. It refers to the ability to discern political right from wrong, grasp political direction, identify political issues in general affairs, and detect political undercurrents in emerging trends before there are large-scale or systemic challenges.
Political comprehension, which is the foundation. It refers to the ability of being able to grasp, internalise and apply the Party’s theory, policies, decisions and overall direction. Understand the ‘matters of national importance’ and the political intent behind decisions.
Political execution, which is the end point. It refers to the ability of being able to translate political decisions and deployments into tangible outcomes. This must be done without deviation to ensure policies are carried out completely and effectively.
Jiang also identifies two most foundational aspects of political ability, i.e., political discipline (including one’s own behaviour and adherence to official discipline and anti-corruption efforts) and political determination/steadfastness (which covers the notion of maintaining firmness in political position, ideological belief, and maintaining correct political direction under any circumstances).
So what is needed to cultivate all of this? Jiang has a five-fold plan:
Theoretical nourishment: This entails deeply learning and grasping the Party’s innovative theories, especially Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. It also involves grasping Marxist political views, world-views and methods using them effectively.
Party spirit cultivation: This entails maintaining Party loyalty, ideological conviction, and the Party’s political character. It also requires one to be engaged in the Party’s internal life, through democratic life meetings, criticism and self-criticism, and ensuring strict adherence to Party discipline
Practical training: This covers enduring political training and practical experience in dealing with difficult tasks, real work, major tasks, first-line struggles, and difficult missions to sharpen the knife.
Cultural cultivation: This covers drawing on China’s excellent traditional culture, revolutionary culture, advanced socialist culture, and maintaining a positive Party political culture and good political ecology
Political physical examinations: This entails regular political inspections, supervision, and strict discipline maintenance