What will China's economy do next year? Summary of Key Points of the Central Economic Work Conference

The Central Economic Work Conference will be 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. What will China's economy do next year? Sort out the key points ↓

　　Analysis of the Economic Work Situation and Current Situation in 2024

　　·The overall economic operation is stable and steady with progress, and high-quality development is solidly promoted. The main goals and tasks of economic and social development are about to be successfully completed.

　　·New quality productivity has developed steadily, reform and opening up have continued to deepen, risks in key areas have been resolved orderly and effectively, people's livelihood has been ensured solidly and effectively, and Chinese path to modernization has taken new and solid steps.

　　·On September 26th, the Central Politburo meeting decisively deployed a package of incremental policies, effectively boosting social confidence and leading to a significant economic recovery.

　　·Our country's economic foundation is stable, with many advantages, strong resilience, and great potential. The supporting conditions and basic trends for long-term improvement have not changed.

　　The fundamental guarantee for doing a good job in economic work

　　The centralized and unified leadership of the Party Central Committee is the fundamental guarantee for doing a good job in economic work. At critical moments and important nodes, the Party Central Committee timely assesses the situation, makes decisions and deployments, and ensures that China's economic ship sails steadily and steadily.

　　Five 'must be coordinated well'

　　·It is necessary to coordinate the relationship between an efficient market and a capable government, and form an economic order that is both "flexible" and "manageable".

　　·We must coordinate the relationship between total supply and total demand, and smooth the circulation of the national economy.

　　·We must coordinate the relationship between cultivating new driving forces and updating old ones, and develop new quality productive forces according to local conditions.

　　·We must coordinate the relationship between optimizing increment and revitalizing stock, and comprehensively improve the efficiency of resource allocation.

　　·We must balance the relationship between improving quality and increasing the total amount, and consolidate the material foundation of Chinese path to modernization.

　　General Requirements

　　Next year, we will maintain stable economic growth, overall stability in employment and prices, basic balance of international payments, and promote synchronous growth of residents' income and economic growth.

　　Next year, we will adhere to the principle of seeking progress while maintaining stability, promoting stability through progress, upholding integrity and innovation, establishing before breaking through, integrating systems and coordinating efforts, enriching and improving policy toolboxes, and enhancing the foresight, pertinence, and effectiveness of macroeconomic regulation.

　　Policy deployment

　　To implement a more proactive fiscal policy

　　·We will increase the rate of fiscal deficits and ensure that fiscal policies continue to be stronger and more awesome.

　　·Intensify fiscal expenditure and strengthen support in key areas.

　　·We will increase the issuance of ultra long term special treasury bond, and continue to support the implementation of "dual" projects and "new" policies.

　　·Increase the issuance and use of local government special bonds, expand the scope of investment and use as project capital.

　　·Optimize the structure of fiscal expenditure, improve the efficiency of fund utilization, pay more attention to benefiting people's livelihoods, promoting consumption, and increasing momentum, and firmly grasp the bottom line of grassroots "three guarantees".

　　·Party and government organs must adhere to a tight schedule.

　　Implement a moderately loose monetary policy

　　·Give full play to the dual functions of the total amount and structure of monetary policy tools, timely reduce reserve requirement ratios and interest rates, maintain sufficient liquidity, and match the expected targets of economic growth and overall price levels with the growth of social financing scale and money supply.

　　·Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.

　　·Explore and expand the macro prudential and financial stability functions of central banks, innovate financial tools, and maintain financial market stability.

　　We need to strike a good combination of policies

　　·Strengthen the coordination and cooperation of fiscal, monetary, employment, industrial, regional, trade, environmental protection, regulatory policies and reform and opening-up measures, improve effective communication, consultation and feedback mechanisms between departments, and enhance policy synergy.

　　·Integrate economic and non economic policies into the macro policy orientation consistency evaluation, coordinate the entire process of policy formulation and implementation, and improve the overall effectiveness of policies.

　　Key content of economic work in 2025 under the "Nine Tasks"

　　1、 Vigorously boost consumption, improve investment efficiency, and comprehensively expand domestic demand

　　·Implement a special action to boost consumption, promote income growth and burden reduction for low - and middle-income groups, and enhance their consumption capacity, willingness, and hierarchy.

　　·Appropriately increase the basic pension for retirees, increase the basic pension for urban and rural residents, and raise the financial subsidy standards for urban and rural residents' medical insurance.

　　·Strengthen the implementation of the "two new" policies, innovate diversified consumption scenarios, expand service consumption, and promote the development of cultural tourism industry.

　　·Actively develop the primary economy, ice and snow economy, and silver economy.

　　·Strengthen top-down organizational coordination and provide greater support for "dual" projects.

　　·Moderately increase investment within the central budget.

　　·Strengthen the coordination between finance and administration, and effectively drive social investment through government investment.

　　·Early planning for major projects during the 15th Five Year Plan period.

　　·Vigorously implement urban renewal.

　　·Implement a special action to reduce logistics costs for the entire society.

　　2、 Leading the development of new quality productivity with technological innovation and building a modern industrial system

　　·Strengthen basic research and key core technology breakthroughs, advance the layout of major scientific and technological projects, and carry out large-scale application demonstration actions for new technologies, new products, and new scenarios.

　　·Launch the 'Artificial Intelligence+' initiative to cultivate future industries.

　　·Strengthen the construction of national strategic scientific and technological capabilities.

　　·Establish a sound multi-level financial service system, strengthen patient capital, make greater efforts to attract social capital to participate in entrepreneurial investment, and cultivate innovative enterprises in a gradient manner.

　　·Comprehensively rectify the "internal competition" and standardize the behavior of local governments and enterprises.

　　·Actively utilizing digital and green technologies to transform and enhance traditional industries.

　　3、 Give full play to the driving role of economic system reform and promote the implementation and effectiveness of landmark reform measures

　　·High quality completion of the deepening and upgrading action of state-owned enterprise reform, and the introduction of the Private Economy Promotion Law.

　　·Carry out a special action to standardize law enforcement related to enterprises.

　　·Develop guidelines for the construction of a unified national market.

　　·Strengthen supervision and promote the healthy development of platform economy.

　　·Coordinate and promote the reform of the fiscal and taxation system, and increase local independent financial resources.

　　·Deepen the comprehensive reform of capital market investment and financing, break through the bottlenecks of medium and long-term capital entering the market, and enhance the inclusiveness and adaptability of the capital market system.

　　4、 Expand high-level opening-up to the outside world, stabilize foreign trade and foreign investment

　　·有序扩大自主开放和单边开放，稳步扩大制度型开放，推动自由贸易试验区提质增效和扩大改革任务授权，加快推进海南自由贸易港核心政策落地。

　　·积极发展服务贸易、绿色贸易、数字贸易。

　　·深化外商投资促进体制机制改革。

　　·稳步推进服务业开放，扩大电信、医疗、教育等领域开放试点，持续打造“投资中国”品牌。

　　·推动高质量共建“一带一路”走深走实，完善海外综合服务体系。

　　五、有效防范化解重点领域风险，牢牢守住不发生系统性风险底线

　　·持续用力推动房地产市场止跌回稳，加力实施城中村和危旧房改造，充分释放刚性和改善性住房需求潜力。

　　·合理控制新增房地产用地供应，盘活存量用地和商办用房，推进处置存量商品房工作。

　　·推动构建房地产发展新模式，有序搭建相关基础性制度。

　　·稳妥处置地方中小金融机构风险。

　　·央地协同合力打击非法金融活动。

　　六、统筹推进新型城镇化和乡村全面振兴，促进城乡融合发展

　　·严守耕地红线，严格耕地占补平衡管理。

　　·抓好粮食和重要农产品稳产保供，提高农业综合效益和竞争力。

　　·保护种粮农民和粮食主产区积极性，健全粮食价格形成机制。

　　·因地制宜推动兴业、强县、富民一体发展，千方百计拓宽农民增收渠道。

　　·发展现代化都市圈，提升超大特大城市现代化治理水平，大力发展县域经济。

　　七、加大区域战略实施力度，增强区域发展活力

　　·发挥区域协调发展战略、区域重大战略、主体功能区战略的叠加效应，积极培育新的增长极。

　　·提升经济发展优势区域的创新能力和辐射带动作用。

　　·支持经济大省挑大梁，鼓励其他地区因地制宜、各展所长。

　　·深化东、中、西、东北地区产业协作，大力发展海洋经济和湾区经济。

　　八、协同推进降碳减污扩绿增长，加紧经济社会发展全面绿色转型

　　·进一步深化生态文明体制改革。营造绿色低碳产业健康发展生态，培育绿色建筑等新增长点。

　　·推动“三北”工程标志性战役取得重要成果，加快“沙戈荒”新能源基地建设。

　　·建立一批零碳园区，推动全国碳市场建设，建立产品碳足迹管理体系、碳标识认证制度。

　　·持续深入推进蓝天、碧水、净土保卫战。

　　·制定固体废物综合治理行动计划。

　　·实施生物多样性保护重大工程。

　　·加强自然灾害防治体系建设。

　　九、加大保障和改善民生力度，增强人民群众获得感幸福感安全感

　　·实施重点领域、重点行业、城乡基层和中小微企业就业支持计划，促进重点群体就业。

　　·加强灵活就业和新就业形态劳动者权益保障。

　　·落实好产业、就业等帮扶政策，确保不发生规模性返贫致贫，保障困难群众基本生活。

　　·推动义务教育优质均衡发展，扎实推进优质本科扩容。

　　·实施医疗卫生强基工程，制定促进生育政策。

　　·发展社区支持的居家养老，扩大普惠养老服务。

　　·坚持和发展新时代“枫桥经验”，加强公共安全系统施治。

　　确保决策部署落到实处

　　·要强化正向激励，激发干事创业的内生动力。

　　·切实为基层松绑减负，让想干事、会干事的干部能干事、干成事。

　　·坚定不移惩治腐败，保持公平公正的市场环境、风清气正的营商环境。

　　·坚持求真务实，坚决反对热衷于对上表现、不对下负责、不考虑实效的形式主义、官僚主义。

　　·统筹发展和安全，抓好安全生产，有效防范和及时应对社会安全事件。

　　·增强协同联动，反对本位主义，形成抓落实的合力。

　　做好岁末年初各项工作

　　要做好岁末年初民生保障和安全稳定各项工作，深入排查化解各类矛盾纠纷和风险隐患，确保社会大局稳定。

Information source: CCTV News App