Heavy news | Central Economic Work Conference held in Beijing

The Central Economic Work Conference was held in Beijing

Zhao Leji, Wang Huning, Cai Qiding, Xue Xiang, and Li Xi attended the meeting

The Central Economic Work Conference was held in Beijing from December 11th to 12th. Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, and Li Xi, members of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, attended the meeting.

The meeting believed that this year is the first year to comprehensively implement the spirit of the 20th CPC National Congress, and the year of economic recovery after the three years of COVID-19 epidemic prevention and control. Significant progress has been made in the construction of a modern industrial system, new breakthroughs have been made in scientific and technological innovation, reform and opening up have been deepened, the foundation for safe development has been consolidated and consolidated, and people's livelihoods have been effectively guaranteed. A solid step has been taken to comprehensively build a socialist modernized country.

The meeting pointed out that further promoting economic recovery requires overcoming some difficulties and challenges, mainly insufficient effective demand, overcapacity in some industries, weak social expectations, and still many risk hazards. There are bottlenecks in the domestic circulation, and the complexity, severity, and uncertainty of the external environment are increasing. To enhance awareness of potential risks and effectively address and solve these problems. Overall, China's development is facing stronger favorable conditions than unfavorable factors, and the basic trend of economic recovery and long-term improvement has not changed. We need to enhance confidence and confidence.

The meeting believes that in recent years, under the strong leadership of the Party Central Committee, we have effectively coordinated the domestic and international situation, epidemic prevention and control, economic and social development, and development and security, deepening our understanding of the regularity of doing economic work well in the new era. We must take adhering to high-quality development as the hard principle of the new era, fully, accurately, and comprehensively implement the new development concept, and promote the effective improvement of quality and reasonable growth of quantity in the economy. We must adhere to deepening the supply side structural reform and focus on expanding the synergy of effective demand, leveraging the advantages of a super large market and strong production capacity, so as to establish the domestic circulation on the basis of domestic demand initiative, and improve the quality and level of international circulation. We must adhere to relying on reform and opening up to enhance the endogenous driving force of development, coordinate the promotion of deep level reform and high-level opening up, continuously liberate and develop social productivity, and stimulate and enhance social vitality. We must adhere to the positive interaction between high-quality development and high-level security, promote high-level security through high-quality development, and ensure high-quality development through high-level security. Development and security must be dynamically balanced and mutually beneficial. We must take the promotion of Chinese path to modernization as the biggest politics, unite the vast majority of the people under the unified leadership of the Party, focus on the central work of economic construction and the primary task of high-quality development, and gradually turn the grand blueprint of Chinese path to modernization into a beautiful reality.

Intensify macroeconomic regulation, coordinate the expansion of domestic demand and the deepening of supply side structural reform, coordinate the new urbanization and comprehensive rural revitalization, coordinate high-quality development and high-level security, effectively enhance economic vitality, prevent and resolve risks, improve social expectations, consolidate and enhance the positive trend of economic recovery, continue to promote the effective improvement of quality and reasonable growth of the economy, enhance people's well-being, and maintain social stability, Promote the building of a strong country and national rejuvenation in an all-round way with Chinese path to modernization.

The meeting requires that next year, we must adhere to the principles of seeking progress while maintaining stability, promoting stability through progress, and implementing policies that are conducive to stabilizing expectations, growth, and employment. We must actively strive to transform our approach, adjust our structure, improve quality, and increase efficiency, continuously consolidating the foundation of stability and improvement. We need to strengthen countercyclical and cross cyclical adjustment of macroeconomic policies, continue to implement proactive fiscal policies and prudent monetary policies, and strengthen innovation and coordination of policy tools.

Active fiscal policies should be moderately strengthened, improved in quality and efficiency. We need to make good use of fiscal policy space, improve funding efficiency and policy effectiveness. Optimize the structure of fiscal expenditure and strengthen financial support for major national strategic tasks. Reasonably expand the scope of local government special bonds used as capital. Implement structural tax reduction and fee reduction policies, with a focus on supporting technological innovation and manufacturing development. Strict supervision of transfer payment funds and strict financial discipline. Enhance fiscal sustainability and secure the bottom line of grassroots "three guarantees". Strictly control general expenditures. Party and government agencies should get used to living a tight life.

A prudent monetary policy should be flexible, moderate, precise, and effective. Maintain reasonable and sufficient liquidity, and ensure that the scale of social financing and money supply match the expected goals of economic growth and price levels. Give full play to the dual functions of the total quantity and structure of monetary policy tools, activate stock, improve efficiency, and guide financial institutions to increase their support for technological innovation, green transformation, inclusive small and micro enterprises, and digital economy. Promote stable and moderate reduction in the cost of comprehensive social financing. Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.

We need to enhance the consistency of macroeconomic policy orientation. Strengthen the coordination and cooperation of fiscal, monetary, employment, industrial, regional, technological, environmental and other policies, incorporate non economic policies into the consistency assessment of macroeconomic policy orientation, strengthen policy coordination, and ensure joint efforts and formation. Strengthen economic propaganda and public opinion guidance, and sing the praises of the bright future of China's economy.

The meeting emphasized that next year we should focus on promoting high-quality development, highlight key areas, grasp key points, and solidly carry out economic work.

One is to lead the construction of a modern industrial system through technological innovation. We should promote industrial innovation through technological innovation, especially by using disruptive and cutting-edge technologies to give birth to new industries, models, and driving forces, and develop new quality productive forces. Improve the new national system, implement high-quality development actions for key manufacturing industry chains, strengthen quality support and standard guidance, and enhance the resilience and safety level of industrial and supply chains. We must vigorously promote new industrialization, develop the digital economy, and accelerate the development of artificial intelligence. Building strategic emerging industries such as biological manufacturing, commercial aerospace, and low altitude economy, opening up new tracks for future industries such as quantum and life sciences, widely applying digital and green technologies, and accelerating the transformation and upgrading of traditional industries. Strengthen applied basic research and cutting-edge research, and strengthen the leading position of enterprises in scientific and technological innovation. Encourage the development of entrepreneurial investment and equity investment.

The second is to focus on expanding domestic demand. To stimulate potential consumption, expand effective investment, and form a virtuous cycle of mutual promotion between consumption and investment. Promote consumption to shift from post epidemic recovery to sustained expansion, cultivate and strengthen new types of consumption, vigorously develop digital consumption, green consumption, and healthy consumption, and actively cultivate new consumption growth points such as smart homes, entertainment and tourism, sports events, and domestic "trendy goods". Stabilize and expand traditional consumption, and boost bulk consumption of new energy vehicles, electronic products, and other products. Increase the income of urban and rural residents, expand the scale of middle-income groups, and optimize the consumption environment. We should take improving technology, energy consumption, emissions and other standards as the driving force to promote large-scale equipment updates and the exchange of old for new consumer goods. Give full play to the amplification effect of government investment, focus on supporting key core technology research and development, new infrastructure, energy conservation, emission reduction, and carbon reduction, and cultivate new driving forces for development. Improve investment and financing mechanisms, implement new mechanisms for cooperation between the government and social capital, and support the participation of social capital in the construction of new infrastructure and other fields.

The third is to deepen reforms in key areas. We should plan major measures to further comprehensively deepen reform, and continue to inject strong impetus into promoting high-quality development and accelerating the construction of Chinese path to modernization. Continuously improving and implementing the "two unwavering" institutional mechanisms, fully stimulating the endogenous motivation and innovative vitality of various business entities. Deepen the implementation of the reform and upgrading of state-owned enterprises, enhance core functions, and enhance core competitiveness. Promote the development and growth of private enterprises, and implement a number of measures in market access, factor acquisition, fair law enforcement, and rights protection. Promote the specialized, refined, and innovative development of small and medium-sized enterprises. Accelerate the construction of a unified national market and focus on eliminating various forms of local protection and market segmentation. Effectively reduce the logistics costs of the entire society. We need to plan a new round of financial and tax system reform and implement financial system reform.

The fourth is to expand high-level opening-up to the outside world. We need to accelerate the cultivation of new momentum in foreign trade, consolidate the basic foundation of foreign trade and investment, and expand intermediate goods trade, service trade, digital trade, and cross-border e-commerce exports. Relax market access for service industries such as telecommunications and healthcare, benchmark against international high standard economic and trade rules, seriously address issues such as cross-border data flow and equal participation in government procurement, continue to build a market-oriented, legal, and internationalized first-class business environment, and create the "Invest in China" brand. Effectively break through the barriers for foreign personnel to come to China for business, study, and tourism. We will ensure the implementation of the eight initiatives to support high-quality joint construction of the "the Belt and Road", and comprehensively promote major landmark projects and "small and beautiful" livelihood projects.

The fifth is to continuously and effectively prevent and resolve risks in key areas. We must coordinate the resolution of risks in real estate, local debt, and small and medium-sized financial institutions, crack down on illegal financial activities, and firmly hold the bottom line of preventing systemic risks. Actively and prudently resolving real estate risks, meeting the reasonable financing needs of real estate enterprises with different ownership equally, and promoting the stable and healthy development of the real estate market. Accelerate the construction of affordable housing, the construction of public infrastructure for both emergency and basic needs, and the renovation of urban villages. Improve relevant basic systems and accelerate the construction of new models for real estate development. Efforts should be made to coordinate the resolution of local debt risks and stable development, and major economic provinces should truly shoulder the responsibility and make greater contributions to stabilizing the national economy.

Sixth, we will persistently focus on the work related to agriculture, rural areas, and farmers. To anchor the goal of building a strong agricultural country, learn and apply the experience of the "Ten Million Project", effectively promote the comprehensive revitalization of rural areas, with the bottom line of ensuring national food security and preventing large-scale poverty return. The focus is on improving the level of rural industrial development, rural construction, and rural governance, strengthening the dual drive of technology and reform, and strengthening measures to increase farmers' income, Concentrate efforts to achieve tangible results that are accessible to the masses, and build livable, business friendly, and beautiful rural areas. We will not relax our efforts to ensure the stable and safe supply of important agricultural products such as grain, explore the establishment of inter provincial horizontal benefit compensation mechanisms for grain production and sales areas, reform and improve the balance system of farmland occupation and compensation, and raise the investment standards for high standard farmland construction. Establish a concept of big agriculture and big food, and build agriculture into a modern industry.

The seventh is to promote urban-rural integration and regional coordinated development. We should organically combine the promotion of new urbanization with the comprehensive revitalization of rural areas, promote the two-way flow of various factors, promote the construction of new urbanization with county towns as important carriers, and form a new pattern of urban-rural integration and development. Implement urban renewal actions to create livable, resilient, and smart cities. Fully leverage the comparative advantages of various regions, actively integrate and serve the construction of a new development pattern according to the positioning of the main functions. Optimize the layout of major productive forces and strengthen the construction of national strategic hinterland. Vigorously developing the marine economy and building a maritime power.

Eighth, we will deepen the construction of ecological civilization and promote green and low-carbon development. Build a leading area for beautiful China and create a highland for green and low-carbon development. Actively and prudently promote carbon peak and carbon neutrality, and accelerate the construction of a green and low-carbon supply chain. Continuously deepen the defense of the blue sky, clear water, and pure land. Improve the mechanism for realizing the value of ecological products. Implement the reform of the collective forest rights system. Accelerate the construction of a new energy system, strengthen resource conservation, intensive recycling, and efficient utilization, and improve the ability to ensure energy and resource security.

The ninth is to effectively safeguard and improve people's livelihoods. We must adhere to doing our best and acting within our capabilities, ensuring that we adhere to the bottom line of people's livelihoods. More prominent employment priority orientation, ensuring stable employment for key groups. Weave and strengthen the social security network, and improve the hierarchical and classified social assistance system. Accelerate the improvement of the birth support policy system, develop the silver haired economy, and promote high-quality population development.

The meeting pointed out that it is necessary to deeply understand the scientific judgment of the Party Central Committee on the economic situation, effectively enhance the sense of responsibility and mission to do a good job in economic work, seize all favorable opportunities, make use of all favorable conditions, take action as soon as possible, and do more as possible, striving to respond to the uncertainty of changes in the situation with the certainty of one's own work. We must fully implement the overall requirements of next year's economic work, pay attention to grasping and handling the relationship between speed and quality, macro data and micro perception, economic development and improving people's livelihoods, and development and security, and continuously consolidate and enhance the positive trend of economic recovery. We need to accurately grasp the policy orientation of next year's economic work, strengthen coordination and linkage in policy implementation, amplify combination effects, lay a good lead and leave redundancy in policy reserves, pay attention to effectiveness and enhance the sense of gain in policy effectiveness evaluation, and focus on improving the effectiveness of macro policy support for high-quality development. We need to emphasize the ways and methods of promoting work, grasp the main contradictions, break through bottleneck constraints, pay attention to forward-looking layout, and ensure the implementation of key economic work tasks next year. We must always maintain a spirit of striving and making progress, embrace the greatness of the country, take initiative to take on responsibilities, strengthen coordination and cooperation, actively plan and use work tools with strong traction and leverage, and solidly promote high-quality development.

The meeting emphasized the need to adhere to and strengthen the comprehensive leadership of the Party, and thoroughly implement the decisions and deployments of the Party Central Committee on economic work. We must fully implement it and ensure that the final effect is in line with the decision-making intentions of the Party Central Committee. We must vigorously implement and coordinate the timing and effectiveness. We must seek truth, be pragmatic, and ensure implementation, resolutely rectify formalism and bureaucracy. We must dare to do good deeds and ensure implementation, adhere to the correct employment orientation, and fully tap into the enthusiasm, initiative, and creativity of leaders at all levels. To consolidate and expand the achievements of thematic education, and transform them into the results of promoting high-quality development.

The meeting called for ensuring the supply and stable prices of important livelihood commodities at the end of the year and the beginning of the year, ensuring timely and full payment of wages for migrant workers, caring for the production and life of disadvantaged groups, deepening the implementation of the safety production responsibility system, and safeguarding the safety of people's lives, property, and physical health.

Members of the Political Bureau and Secretary of the Central Secretariat of the Communist Party of China, relevant leaders of the Standing Committee of the National People's Congress, State Councilors, President of the Supreme People's Court, Prosecutor General of the Supreme People's Procuratorate, relevant leaders of the National Committee of the Chinese People's Political Consultative Conference, and members of the Central Military Commission attended the meeting.

Party and government officials from various provinces, autonomous regions, municipalities directly under the central government, cities specifically designated in the state plan, Xinjiang Production and Construction Corps, relevant departments of central and state organs, relevant people's organizations, some financial institutions and enterprises managed by the central government, and major officials from various departments of the Central Military Commission attended the meeting.