The fourth World Congress on Marxism opened at Peking University in the Chinese capital on Saturday.
The two-day event, under the theme "Marxism and Human Civilization," has gathered international specialists and scholars from about 20 countries.
During interviews with the China Global Television Network (CGTN), participants shared insights on Chinese modernization and its connection to Marxism.
"What's interesting about Chinese-style modernization is that it's going to be the first type of modernization which isn't based on imperialism, colonialism, hegemonism and war, so it's a peaceful type of modernization, and it's a type of modernization that's based on common prosperity and ecological preservation," said Carlos Martinez, an author, independent researcher and political activist from Britain.
"A lot of people think that China's modernization is completely disconnected from Marxism because Marxism expected revolution to take place in advanced countries and such like things. I believe that this is a misunderstanding. And if you take account of what Marxism says about imperialism, about the need to resist imperialism, etc, China's modernization is very deeply connected with Marxism. Indeed, China's modernization demonstrates the truth of Marxism," said Radhika Desai, a professor of the Department of Political Studies at the University of Manitoba in Canada.
The congress features 10 panels and three high-profile dialogs on topics ranging from Marxism and Chinese civilization, global governance, to the transformation of human civilization in the digital age. This year marks the 10th anniversary of the World Congress on Marxism, which was launched in 2015 and is held every three years.
4th World Congress on Marxism opens in Beijing
China will strengthen fiscal and financial coordination to amplify policy effectiveness, experts said as the draft central and local budgets for 2026 were unveiled on Friday at the ongoing fourth session of the 14th National People's Congress.
According to the draft central and local budgets for 2026, 1.3 trillion yuan (190 billion U.S. dollars) of ultra-long special treasury bonds will be issued to provide continued support for the implementation of major national strategies and security capacity-building in key areas and for large-scale equipment upgrades and consumer goods trade-in programs.
Ultra-long special treasury bonds totaling 800 billion yuan will be allocated to support the implementation of major national strategies and security capacity-building in key areas, and 250 billion yuan in ultra-long special treasury bonds will be earmarked for consumer goods trade-in programs.
The country will refine these programs in terms of their scope and subsidy standards, and continue to support the scrapping and replacement of automobiles, home appliance trade-in schemes, and purchases of new digital and smart products.
China will also set up a 100-billion-yuan fiscal-financial coordination fund to boost domestic demand. The fund will support consumption and private investment through loan interest subsidies, financing guarantee, and risk compensation.
"Fiscal and monetary policies are the two major macroeconomic tools for macro-control, and their coordination is crucial. For instance, fiscal funds primarily serve as a guiding role, while financial institutions provide the capital. When fiscal guidance and financial resources are combined, the synergistic effect creates a result greater than the sum of its parts," said Yang Zhiyong, director of the Chinese Academy of Fiscal Sciences.
"By leveraging interest subsidies, we can mobilize substantial credit from financial institutions, thereby naturally stimulating consumption. The Ministry of Finance, in collaboration with the People's Bank of China, has introduced highly innovative measures, such as providing guarantees for the issuance of corporate bonds by small and medium-sized enterprises (SMEs), and compensating investors for losses. I believe the leveraging effect, making minimal efforts for maximum results, will become even more potent," said Yao Dongmin, director of the Center for China Fiscal Development under the Central University of Finance and Economics.
China's top legislature opened its annual session on Thursday morning at the Great Hall of the People in Beijing, with Chinese President Xi Jinping and other Party and state leaders attending the opening meeting alongside more than 2,700 NPC deputies. This year's NPC session is scheduled to run till March 12.
China to strengthen fiscal, financial coordination to amplify policy effectiveness: experts
