Central Economic Work Conference held in Beijing Xi Jinping attended the meeting and delivered an important speech

The Central Economic Work Conference was held in Beijing

Xi Jinping delivered an important speech and Li Qiang made a concluding speech.

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. Xi Jinping, General Secretary of the Communist Party of China Central Committee, President of the People's Republic of China, and Chairman of the Central Military Commission, attended the meeting and delivered an important speech. Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, and Li Xi, members of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting.

In his important speech, Xi Jinping comprehensively summarized the economic work in 2023, deeply analyzed the current economic situation, and systematically deployed the economic work in 2024. Li Qiang made a concluding speech and put forward requirements for implementing the spirit of General Secretary Jinping's important speech and doing a good job in economic work next year.

The meeting believes that,This year is the first year to fully implement the spirit of the 20th National Congress of the Communist Party of China, and the year of economic recovery and development after three years of COVID-19 epidemic prevention and control. The Party Central Committee, with Comrade Xi Jinping at its core, has united and led the entire Party and people of all ethnic groups in the country to withstand external pressure, overcome internal difficulties, comprehensively deepen reform and opening up, increase macroeconomic regulation, focus on expanding domestic demand, optimizing structure, boosting confidence, and preventing and resolving risks. China's economy has rebounded and improved, and high-quality development has been solidly promoted. 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 pushed forward in depth, the foundation for safe development has been consolidated and solidified, people's livelihood guarantees have been strong and effective, and solid steps have been taken to comprehensively build a socialist modernized country.

The meeting pointed out that,Further promoting economic recovery and improvement requires overcoming some difficulties and challenges, mainly due to insufficient effective demand, overcapacity in some industries, weak social expectations, and still many risks and hidden dangers. There are bottlenecks in the domestic circulation, and the complexity, severity, and uncertainty of the external environment are increasing. We need to enhance our awareness of potential risks and effectively address and solve these problems. Overall, the favorable conditions for China's development are stronger than the 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 Central Committee of the Communist Party of China, we have effectively coordinated the domestic and international situations, coordinated epidemic prevention and control with economic and social development, and coordinated development with security, deepening our understanding of the regularity of doing a good job in economic work 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 the economy in terms of quality and reasonable growth in terms of quantity. We must adhere to deepening the supply side structural reform and focus on expanding effective demand synergy, 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 productive forces, and stimulate and enhance social vitality. We must adhere to the benign interaction between high-quality development and high-level security, promote high-level security with high-quality development, and ensure high-quality development with high-level security. Development and security should be dynamically balanced and complement each other. 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.

The meeting emphasized that,To do a good job in economic work next year, we must be guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the 20th National Congress of the Party and the Second Plenary Session of the 20th Central Committee, adhere to the general tone of the work of seeking progress while maintaining stability, complete, accurate and comprehensive Implement the new development concept, accelerate the construction of a new development pattern, focus on high-quality development, comprehensively deepen reform and opening up, promote high-level science and technology self-level self-reliance, and strengthen macro-control, coordinate the expansion of domestic demand and deepen supply-side structural reforms, coordinate 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, and consolidate and strengthen the economic recovery. Continue to promote the economy to achieve effective qualitative improvement and reasonable growth in quantity, improve people's livelihood and well-being, maintain social stability, and comprehensively promote the building of a strong country and national rejuvenation with Chinese modernization.

Meeting requirements,Next year, we will adhere to the principle of seeking progress while maintaining stability, promoting stability through progress, and establishing first before breaking through. We will implement policies that are conducive to stabilizing expectations, growth, and employment, and actively strive to transform our methods, adjust our structure, improve our quality, and increase our efficiency, continuously consolidating the foundation of stability and improvement. We need to strengthen countercyclical and cross cyclical macroeconomic policies, continue to implement proactive fiscal policies and prudent monetary policies, and enhance innovation and coordination of policy tools.

A proactive fiscal policy should be moderately strengthened, improved in quality and efficiency. We should make good use of the fiscal policy space, improve the efficiency of funds and policy effectiveness. Optimize the structure of fiscal expenditure and strengthen financial support for major national strategic tasks. Reasonably expand the scope of using local government special bonds as capital. Implement the policy of structural tax reduction and fee reduction, with a focus on supporting technological innovation and the development of manufacturing industry. Strict supervision of transfer payment funds and strict financial discipline. Enhance fiscal sustainability and secure the bottom line of the "three guarantees" at the grassroots level. Strictly control general expenses. Party and government organs 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 targets of economic growth and price levels. Give full play to the dual functions of the total quantity and structure of monetary policy tools, activate the stock, enhance efficiency, and guide financial institutions to increase their support for technological innovation, green transformation, inclusive small and micro enterprises, digital economy, and other aspects. Promote the stable and moderate reduction of comprehensive financing costs in society. Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.

We need to enhance the consistency of macro policy orientation. Strengthen the coordination and cooperation of fiscal, monetary, employment, industrial, regional, science and technology, environmental protection and other policies, incorporate non-economic policies into the consistency assessment of macro-policy orientation, strengthen policy coordination, and ensure the same direction and the formation of synergy. Strengthen economic propaganda and public opinion guidance, sing the bright theory of China's economy.

The meeting emphasized that,Next year, we will focus on promoting high-quality development, highlight the key points, grasp the key, and do a solid job of economic work.

One is to lead the construction of modern industrial system with scientific and technological innovation.It is necessary to promote industrial innovation with scientific and technological innovation, especially to promote new industries, new models, and new kinetic energy with disruptive technologies and cutting-edge technologies, and to develop new quality productivity. We will 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 the industrial chain supply chain. We should vigorously promote new industrialization, develop digital economy and accelerate the development of artificial intelligence. Create a number of strategic emerging industries such as biological manufacturing, commercial aerospace, and low-altitude economy, open up new future industries such as quantum and life sciences, widely apply digital intelligence technology and green technology, and accelerate the transformation and upgrading of traditional industries. Strengthen applied basic research and frontier research, and strengthen the dominant position of enterprises in scientific and technological innovation. Encourage the development of venture capital and equity investment.

The second is to expand domestic demand.It is necessary to stimulate potential consumption, expand profitable investment, and form a virtuous circle in which consumption and investment promote each other. We will promote consumption from post-epidemic recovery to continuous 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 home, recreational tourism, sports events and domestic goods. Stabilize and expand traditional consumption and boost bulk consumption such as new energy vehicles and electronic products. Increase the income of urban and rural residents, expand the size of middle-income groups, and optimize the consumption environment. We should take the improvement of technology, energy consumption, emission and other standards as the traction, and promote large-scale equipment renewal and consumer goods trade-in. Give full play to the driving and amplifying effect of government investment, focus on supporting key core technologies, new infrastructure, energy conservation, emission reduction and carbon reduction, and cultivate new momentum for development. We will improve the investment and financing mechanism, implement a new mechanism for cooperation between the government and social capital, and support social capital to participate in the construction of new infrastructure and other fields.

Three is to deepen the reform of key areas.It is necessary to plan major measures to further deepen reforms in an all-round way, and continue to inject strong impetus into promoting high-quality development and accelerating Chinese-style modernization. Continuously improve and implement the "two unshakable" systems and mechanisms, and fully stimulate the endogenous power and innovative vitality of various business entities. In-depth implementation of the reform of state-owned enterprises to deepen the promotion of action, enhance core functions, improve core competitiveness. Promote the development and growth of private enterprises, and implement a number of measures in market access, element acquisition, fair law enforcement, and rights protection. Promote the new 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 cost of the whole society. It is necessary to plan a new round of fiscal and taxation system reform and implement financial system reform.

Four is to expand the high level of opening up.We should speed up the cultivation of new momentum of foreign trade, consolidate the basic market of foreign trade and foreign investment, and expand trade in intermediate goods, trade in services, digital trade and cross-border e-commerce exports. We will relax market access for telecommunications, medical and other service industries, benchmark international high-standard economic and trade rules, conscientiously solve the problems of cross-border data flow and equal participation in government procurement, and continue to build a market-oriented, legalized and international first-class business environment. to create the "invest in China" brand. Effectively break through the blocking points for foreigners to come to China for business, study and tourism. We will do a good job in supporting the implementation of the eight actions of "Belt and Road Initiative" with high quality, and comprehensively promote major landmark projects and "small and beautiful" livelihood projects.

Fifth, continue to effectively prevent and resolve risks in key areas.It is necessary to coordinate and resolve risks such as real estate, local debt, and small and medium-sized financial institutions, severely crack down on illegal financial activities, and resolutely hold the bottom line of avoiding systemic risks. Actively and steadily resolve real estate risks, meet the reasonable financing needs of real estate enterprises of different ownership equally, and promote the stable and healthy development of the real estate market. We will speed up the construction of indemnificatory housing, the construction of public infrastructure for both flat and urgent purposes, and the transformation of villages in cities ". Improve the relevant basic system, accelerate the construction of a new model of real estate development. To coordinate the resolution of local debt risks and stable development, major economic provinces must truly provoke the backbone and make greater contributions to stabilizing the national economy.

Six is to persevere in the "three rural" work.It is necessary to anchor the goal of building a powerful agricultural country, learn to use the experience of the "ten million projects", and effectively promote the comprehensive revitalization of the countryside, with the bottom line of ensuring national food security and ensuring that large-scale return to poverty does not occur, and to improve the level of rural industrial development and rural construction. Focus on improving the level of rural governance, strengthen the two-wheel drive of science and technology and reform, strengthen measures to increase farmers' income, and concentrate efforts to do a group, build livable and business-friendly villages and beautiful villages. We will not relax our efforts to stabilize and secure the supply of grain and other important agricultural products, explore the establishment of an inter-provincial horizontal interest compensation mechanism for grain production and marketing areas, reform and improve the balance system of arable land occupation and compensation, and raise the input standards for high-standard farmland construction. Establish a big view of agriculture and food, and build agriculture into a modern big industry.

Seven is to promote urban and rural integration, regional coordinated development.It is necessary to organically combine the promotion of new urbanization with the comprehensive revitalization of rural areas, promote the two-way flow of various elements, promote the construction of new urbanization with county towns as an important carrier, and form a new pattern of urban-rural integration and development. Implement urban renewal actions to build livable, resilient and smart cities. Give full play to the comparative advantages of various regions, and actively integrate and serve to build a new development pattern in accordance with the positioning of the main functions. Optimize the layout of major productive forces and strengthen the construction of the country's strategic hinterland. Vigorously develop the marine economy and build a maritime power.

Eight is to further promote the construction of ecological civilization and green low-carbon development.Build a beautiful China pioneer area and create a green and low-carbon development highland. Actively and steadily promote carbon peak carbon neutrality, accelerate the creation of a green low-carbon supply chain. Continue to deepen the blue sky, clear water, pure land defense war. Improve the ecological product value realization mechanism. Implementing the reform of the collective forest tenure system. We will speed up the construction of a new energy system, strengthen the intensive and efficient use of resources, and improve the ability to ensure the security of energy resources.

Nine is to effectively protect and improve people's livelihood.We must persist in doing our best, doing what we can, and holding the bottom line of people's livelihood. More emphasis on employment priority orientation, to ensure stable employment of key groups. Weave a strong social security network and improve a hierarchical and classified social assistance system. Accelerate the improvement of the birth support policy system, develop the silver economy, and promote high-quality population development.

The meeting pointed out that,It is necessary to deeply understand the scientific judgment of the CPC Central Committee on the economic situation, earnestly enhance the sense of responsibility and mission of doing a good job in economic work, seize all favorable opportunities, make use of all favorable conditions, and pay close attention to doing as much as possible, and strive to deal with the uncertainty of changes in the situation with the certainty of their own work. It is necessary to 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 feelings, economic development and improvement of people's livelihood, development and security, and constantly consolidate and enhance the trend of economic recovery. We should accurately grasp the policy orientation of next year's economic work, strengthen synergy and linkage in policy implementation, amplify the combined effect, lay a good advance in policy reserves, set aside redundancy, pay attention to effectiveness in policy effect evaluation, enhance the sense of gain, and strive to improve the effect of macro policies to support high-quality development. We should pay attention to the ways and means of work promotion, grasp the main contradictions, break through the bottleneck constraints, pay attention to the forward-looking layout, and ensure the implementation of the key tasks of economic work next year. It is necessary to always maintain an enterprising and promising mental state, have the "big country" in mind, take the initiative to act, strengthen coordination and cooperation, actively plan and make good use of traction and strong leverage, and solidly promote high-quality development.

The meeting emphasized that,It is necessary to uphold and strengthen the party's overall leadership, and thoroughly implement the party Central Committee's decision-making and deployment on economic work. We should pay close attention to the implementation to ensure that the final effect is in line with the decision-making intention of the Party Central Committee. It is necessary to be vigorous and resolute in grasping implementation and to make overall plans to grasp the timeliness and effectiveness. It is required to be realistic and pragmatic, and to resolutely rectify formalism and bureaucracy. We must dare to do good for implementation, adhere to the correct employment orientation, and give full play to the enthusiasm, initiative and creativity of leading cadres at all levels. It is necessary to consolidate and expand the achievements of thematic education and translate them into the effectiveness of promoting high-quality development.

Meeting requirements,It is necessary to ensure the supply and price of important livelihood commodities at the end of the year and the beginning of the year, ensure that the wages of migrant workers are paid on time and in full, care about the production and life of the people in need, thoroughly implement the safety production responsibility system, and protect the people's lives and property safety and health.

The conference called,The whole party should closely unite around the Party Central Committee with Comrade Xi Jinping as the core, strengthen confidence, forge ahead, strive to achieve the goals and tasks of economic and social development, and make new and greater contributions to comprehensively promoting the construction of a powerful country and the great cause of national rejuvenation with Chinese-style modernization with practical actions and results of high-quality development.

Members of the Political Bureau and Secretariat of the CPC Central Committee, relevant leading comrades of the Standing Committee of the National People's Congress, state councilors, president of the Supreme People's Court, procurator general of the Supreme People's Procuratorate, relevant leading comrades of the CPPCC National Committee and members of the Central Military Commission attended the meeting.

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

Information source: Xinhua News Agency