The Communist Party of China (CPC) will convene the third plenary session of its 20th central committee on July 15 in Beijing.

The plenum, which will primarily examine issues related to further comprehensively deepening reform and advancing Chinese modernization, will last until July 18, according to a meeting of the Political Bureau of the CPC Central Committee on Thursday.

Xi Jinping, general secretary of the CPC Central Committee, chaired Thursday's meeting.

The meeting decided to submit a draft decision on further comprehensively deepening reform and advancing Chinese modernization to the plenum for deliberation.

At the meeting, Political Bureau members were briefed on comments on the draft, which were taken from both within and outside the Party. The draft will be updated after discussions at the meeting.

The draft has thoroughly analyzed the new situations and problems in advancing Chinese modernization and scientifically planned the overall arrangements for further deepening reforms, according to the meeting.

It was noted at the meeting that the draft serves as a programmatic document guiding deepening reform across the board on the new journey and demonstrates the resolve of the Party Central Committee with Xi at the core to open up broad prospects for Chinese modernization through further deepening reform.

Elaborating on the goals and objectives of further reform, the meeting said China will complete building a high-standard socialist market economy by 2035.

The system and capacity for governance will be basically modernized and socialist modernization will be basically achieved by 2035, it added.

The meeting spelled out principles to be upheld in furthering reform.

It emphasized upholding the Party's overall leadership and safeguarding the Party Central Committee's authority and its centralized and unified leadership.

It stressed the people-centered philosophy, adding that the principal position of the people and their creativity should be respected.

The meeting stressed seeking innovation while adhering to what has been done right.

It said socialism with Chinese characteristics should be unswervingly upheld and innovation should be explored in theoretical, practical, institutional, cultural and other aspects.

The meeting also called for seeking institutional improvement and improving top-level design.

It underscored the importance of deepening reforms and advancing Chinese modernization under the rule of law.

The meeting also emphasized the importance of adopting systems thinking to balance key relationships between the economy and society, government and market, efficiency and fairness, vitality and order, as well as development and security.

"The Party's leadership is the fundamental guarantee for further comprehensively deepening reform and advancing Chinese modernization," the meeting noted, calling for turning the reform plan into a powerful driving force for advancing Chinese modernization.