BEIJING, Oct. 24 (Xinhua) -- A new blueprint for the rule of law set by the Communist Party of China (CPC) during a key meeting this week is of great significance for the development of the world's second largest economy, experts have said.

According to a communique issued after the Fourth Plenary Session of the 18th CPC Central Committee held in Beijing from Monday to Thursday, the overall target of the CPC's current drive to advance the rule of law is to form a system serving "the socialist rule of law with Chinese characteristics" and build a country under "the socialist rule of law."

This is the first time a plenary session of the CPC Central Committee has taken this topic as its central theme.

IMPORTANT STEP TOWARD RULE OF LAW

Odd Arne Westad, a professor of international history at the London School of Economics and Political Science (LSE), said the four-day meeting is an important step for China toward the rule of law.

"I think it's very important. I think it's immensely positive that the government and the party leadership have decided to focus on the rule of law, because it is something that China in the future will need for development," said Westad, who is also director of LSE IDEAS, a center for international affairs, diplomacy and strategy.

He added that the blueprint is a "secure basis" in terms of China's legal system and legal practices.

"I mean this is important (not only) for people's daily lives, but also for China's economic development, because ... stability, predictability and the rule of law is something that all investors are looking for in terms of where they put their money," he said.

The professor also called on China to develop its own system of rule of law.

"It doesn't want to copy anyone else's. It has to develop the basic Chinese system of law, but it has to be more predictable," he said.

Meanwhile, Westad stressed the importance of an independent judicial system, saying China has progressed toward that direction.

In Thursday's communique, the CPC promised legal reforms that are aimed at giving judges more independence and limiting local officials' influence over courts and cases.

"If rule of law is to be established, the judiciary has to be independent," Westad said. "So I think there is a lot that needs to be done with this, but I think the plenum is a big step forward."

Bambang Suryono, head of the academic research organization of Nanyang ASEAN Foundation, said advancing the rule of law in China will create a level-playing legal field for both Chinese and foreign entrepreneurs and investors, lowering running costs of the business sector while increasing its operating efficiency.

It will also provide a legal foundation to fight against vested interests, and also be conducive to protecting the achievements of China's reform and opening-up, Suryono added.

City councilor Sun Yaoheng of South Africa's Johannesburg said comprehensively advancing the rule of law in China will bring about more equity policies and overall improvement to the country's development.

"The rule of law and well-founded policies with strong execution are essential to a prosperous China," he added.

FIGHT AGAINST CORRUPTION

On the role of the rule of law in China's intensified effort to combat corruption, Westad said the new blueprint will help the CPC accelerate its anti-corruption drive in the country.

"When you open up a system, this always happens -- people make use of the chance to enrich themselves," he said.

The Chinese leadership's anti-corruption efforts are very positive for China and its image in the world, he added.

"There are side effects, small side effects. The most important thing here I think is that it's very positive, that it focuses on combating corruption and dealing with it even at very high levels," Westad said.

Echoing Westad's view, Munene Macharia, a professor of the United States International University at Nairobi, Kenya, said the CPC's decision to advance the rule of law will accelerate the anti-corruption move and help modernize China's governance.

"A vibrant rule of law will bolster China's international image and also increase foreign direct investment," Macharia said.

Etienne Reuter, director at Elliott Consultants Ltd. in Brussels, said the phrase of rule of law is not new in the CPC's official discourse, but it has new implications given today's new circumstances.

"The opening and transformation of China's economy following Deng Xiaoping's four modernizations has entered a new phase requiring greater environmental sustainability and social inclusiveness. The people of China aspire for a better quality of life and a fairer society," he said.

"In this respect, the rule of law provides the essential underpinning for combating pollution and degradation of the environment as well as for the fight against corruption," Reuter said.

In the view of Khalid Mahmood, president of the Islamabad Council of World Affairs, the rule of law will boost China's good image in the world and increase the world's trust in China, as well as enhance China's fight against corruption.

China is not bound to follow any other country in the world for the rule of law, and it should consider its own culture, traditions and current requirements to set rules and laws "with Chinese characteristics," he noted.

Wu Jianmin, a guest research fellow at LSE IDEAS, said the CPC's pursuit of the rule of law will help China better show itself to the whole world.

The just-concluded plenary session has drawn worldwide praise as it is the first in the CPC's history that focuses on the rule of law, said Wu, who is also a former Chinese ambassador to France.

China will not copy the experience of others and will build the rule of law with its own characteristics, he added.