China’s economy expected to get boost from third plenum of 20th CPC Central Committee: experts

China's economy is expected to receive a boost in its growth momentum, with targeted policies put forward at the third plenary session of the 20th Central Committee of the Communist Party of China (CPC) driving this upward trajectory, said experts.

The 20th Central Committee of the CPC started its third plenary session in Beijing on Monday and will run till Thursday.

Xi Jinping, general secretary of the CPC Central Committee, delivered a work report on behalf of the Political Bureau of the CPC Central Committee and expounded on a draft decision of the CPC Central Committee on further comprehensively deepening reform and advancing Chinese modernization.

In an interview with China Global Television Network (CGTN), Li Yong, chief researcher of D and C Thinktank, reckons that the plenum will give another policy boost to the development of the Chinese economy.

"[In] the first half of the year, the numbers told us that there is consistent performance of the economy, with the government policies being taken. And going forward, I think China's economy will continue based on the current trajectory and momentum for sure. And the government, I think after the third plenary session of the 20th congress [CPC Central Committee], I think China will receive more policy momentum in terms of next year's economic performance," Li said.

Einar Tangen, an independent political and economic affairs commentator, echoed Li's sentiments. He emphasized that the plenum is to make sure China will continue progress on the right track.

"As China goes into this third plenum, there's something very clear. When your path leads you to a stream, do not think that you should go back halfway through or turn right or left. You only can go forward. China has had very successful development policies. They're taking a very go-slow approach, targeted, to make sure that they don't repeat the mistakes that have been done in other economies. And this is vital to creating the kind of confidence that especially small, medium-sized business entities and consumers need to have to keep this Chinese economy going and to increase consumption," he said.

China’s economy expected to get boost from third plenum of 20th CPC Central Committee: experts

The Ukrainian Verkhovna Rada, the country's parliament, will hold a vote on May 8 to ratify a natural resources agreement signed with the United States earlier this week.

The U.S. Treasury Department announced on Wednesday an agreement between the two countries to establish the U.S.-Ukraine Reconstruction Investment Fund, which will give the U.S. preferential access to some of Ukraine's natural resources.

The fund will become operational within a month to a month and a half after the agreement is approved by the Ukrainian parliament, according to Ukraine's First Deputy Prime Minister and Economy Minister Yulia Svyrydenko on Friday.

Speaking to Ukrainian media, the minister expressed her hope for the early launch of the fund, saying it should become a tool for the recovery and development of key sectors of the Ukrainian economy.

Also on Friday, Ukrainian Prime Minister Denys Shmyhal said that the follow-up technical documents for the fund will not be intergovernmental, but will be signed at the institutional level.

He said that the follow-up agreements will be of an implementation nature between Ukraine's designated agency and the U.S. International Development Finance Corporation (DFC), and therefore will not require ratification by the parliament.

Although there are no formal security guarantees in the agreement, but each new military assistance provided by the U.S. to Ukraine is considered a capital contribution, which will encourage the U.S. administration to continue and not to stop supplying Ukraine with weapons and intelligence, said the Ukrainian Prime Minister, who also called on the legislature to ratify the agreement as soon as possible.

Ukrainian parliament to vote on natural resources deal with U.S. on May 8