The Central Economic Work Conference was held in Beijing, and Xi Jinping delivered an important speech
The Central Economic Work Conference was held in Beijing
Xi Jinping delivers important speech, Li Qiang makes summary 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 10th to 11th. 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. Photo by Yan Yan, a reporter from Xinhua News Agency
Beijing, December 11th (Xinhua) -- The Central Economic Work Conference was held in Beijing from December 10th to 11th. 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.
The Central Economic Work Conference was held in Beijing from December 10th to 11th. 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. Photo by Xinhua News Agency reporter Xie Huanchi
In his important speech, Xi Jinping summarized the economic work in 2025, analyzed the current economic situation and deployed the economic work in 2026. 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 Central Economic Work Conference was held in Beijing from December 10th to 11th. 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 attended the meeting. Photo by Xinhua News Agency reporter Xie Huanchi
The meeting pointed out that this year has been an extraordinary year. The Central Committee of the Communist Party of China, with Comrade Xi Jinping at its core, unites and leads the entire Party and people of all ethnic groups in the country to overcome difficulties, work hard, firmly implement the new development concept, promote high-quality development, coordinate the domestic and international situations, implement more proactive macro policies, and successfully achieve the main goals of economic and social development. Our country's economy is advancing under pressure and moving towards new and better development. The construction of a modern industrial system continues to advance, and new steps have been taken in reform and opening up. Positive progress has been made in risk resolution in key areas, and people's livelihood security has become more powerful. In the past five years, we have effectively responded to various shocks and challenges, and achieved new major achievements in promoting the cause of the Party and the country. The 14th Five Year Plan is about to come to a successful end, and the new journey of the second centenary goal has achieved a good start.
The meeting believes that through practice, we have gained new understanding and appreciation for doing a good job in economic work under the new situation: we must fully tap into economic potential, adhere to policy support and reform innovation simultaneously, achieve both "letting go" and "managing well", adhere to the close combination of investing in goods and investing in people, and respond to external challenges through hard work.
The meeting pointed out that there are still many old problems and new challenges in China's economic development, the impact of external environmental changes is deepening, the contradiction between strong domestic supply and weak demand is prominent, and there are many risks and hidden dangers in key areas. These are mostly problems in development and transformation, which can be solved through efforts. The supporting conditions and basic trends for the long-term improvement of China's economy have not changed. We must strengthen our confidence, make good use of our advantages, respond to challenges, and continuously consolidate and expand the momentum of economic stability and improvement.
The meeting emphasized that to do a good job in next year's economic work, we must take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as guidance, deeply implement the spirit of the 20th National Congress of the Communist Party of China and its plenary sessions, fully, accurately and comprehensively implement the new development concept, accelerate the construction of a new development pattern, focus on promoting high-quality development, adhere to the general tone of seeking progress while maintaining stability, better coordinate domestic economic work and international economic and trade struggles, better coordinate development and security, implement more active and proactive macro policies, enhance policy foresight, targeted coordination, continuously expand domestic demand, optimize supply, optimize increment and activate stock, develop new quality productive forces according to local conditions, deepen the construction of a unified national market, continuously prevent and resolve risks in key areas, focus on stabilizing employment, enterprises, markets, and expectations, Promote the effective improvement of quality and reasonable growth of quantity in the economy, maintain social harmony and stability, and achieve a good start to the 15th Five Year Plan.
The meeting pointed out that next year's economic work should adhere to the policy orientation of seeking progress while maintaining stability, improving quality and efficiency, leveraging the integrated effect of stock policies and incremental policies, increasing countercyclical and cross cyclical adjustment efforts, and enhancing the effectiveness of macroeconomic governance. We need to continue implementing more proactive fiscal policies. Maintain necessary fiscal deficits, total debt scale, and total expenditure, strengthen scientific fiscal management, optimize fiscal expenditure structure, and standardize tax incentives and fiscal subsidy policies. Pay attention to solving local financial difficulties and secure the bottom line of the "three guarantees" at the grassroots level. Strictly enforce financial discipline and adhere to a tight schedule for party and government organs. We need to continue implementing a moderately loose monetary policy. Making the promotion of stable economic growth and reasonable price recovery an important consideration of monetary policy, flexibly and efficiently using various policy tools such as reserve requirement ratio cuts and interest rate cuts, maintaining sufficient liquidity, smoothing the transmission mechanism of monetary policy, and guiding financial institutions to increase support for key areas such as expanding domestic demand, technological innovation, and small and medium-sized enterprises. Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. To enhance the consistency and effectiveness of macroeconomic policy orientation. Incorporate various economic and non economic policies, stock policies, and incremental policies into the macro policy orientation consistency assessment. Establish a sound expectation management mechanism to boost social confidence.
The meeting determined to focus on the following key tasks in economic work next year.
One is to adhere to the domestic demand led approach and build a strong domestic market. Deeply implement the special action to boost consumption, formulate and implement plans to increase the income of urban and rural residents. Expand the supply of high-quality goods and services. Optimize the implementation of the "two new" policies. Clean up unreasonable restrictions in the consumer sector and unleash the potential of service consumption. Promote investment to stop falling and stabilize, appropriately increase the scale of investment within the central budget, optimize the implementation of "dual" projects, optimize the management of the use of local government special bonds, continue to play the role of new policy financial instruments, and effectively stimulate the vitality of private investment. Promote high-quality urban renewal.
Secondly, we must adhere to innovation driven development and accelerate the cultivation and growth of new driving forces. Develop an integrated plan to promote the development of educational technology talents. Build international science and technology innovation centers in Beijing (Beijing Tianjin Hebei), Shanghai (Yangtze River Delta), and the Guangdong Hong Kong Macao Greater Bay Area. Strengthen the dominant position of enterprises in innovation and improve the intellectual property protection system in emerging fields. Develop an action plan for expanding and improving the quality of the service industry. Implement a new round of high-quality development actions for key industrial chains. Deepen the expansion of 'Artificial Intelligence+' and improve the governance of artificial intelligence. Innovative technology and financial services.
The third is to adhere to reform and strengthen the vitality of high-quality development. Formulate regulations for the construction of a unified national market and thoroughly rectify "internal competition". Develop and implement plans to further deepen the reform of state-owned assets and enterprises, and improve supporting laws, regulations, and policies for promoting the private economy. Step up efforts to clear overdue corporate accounts. Promote the win-win development of platform enterprises, platform operators, and workers. Expand the pilot reform of factor marketization. Establish a sound local tax system. Deepen the reduction and improvement of small and medium-sized financial institutions, and continue to deepen the comprehensive reform of capital market investment and financing.
The fourth is to adhere to opening up to the outside world and promote win-win cooperation in multiple fields. Steadily promote institutional opening-up, orderly expand independent opening-up in the service sector, optimize the layout scope of free trade pilot zones, and solidly promote the construction of Hainan Free Trade Port. Promote the integration of trade and investment, as well as the integration of domestic and foreign trade. Encourage and support service exports, actively develop digital trade and green trade. Deepen the reform of the system and mechanism for promoting foreign investment. Improve the comprehensive overseas service system. We will work together to build high-quality development along the the Belt and Road. Promote the signing of more regional and bilateral trade and investment agreements.
The fifth is to adhere to coordinated development, promote urban-rural integration and regional linkage. Coordinate the promotion of urbanization construction and comprehensive rural revitalization with county towns as important carriers, and promote high-quality development of county economies. Strictly abide by the red line of arable land, never relax and focus on grain production, and promote the prices of important agricultural products such as grain to remain at a reasonable level. Continuously consolidate and expand the achievements of poverty alleviation, incorporate normalized assistance into the overall implementation of rural revitalization strategy, and firmly guard against the bottom line of large-scale poverty relapse. Support economically powerful provinces to shoulder the heavy burden. Strengthen the coordination and linkage of key urban agglomerations, and deepen cross administrative cooperation. Strengthen the overall planning of major bays and promote high-quality development of the marine economy.
Sixth, we must adhere to the guidance of "dual carbon" and promote comprehensive green transformation. Deepen the energy-saving and carbon reduction transformation of key industries. Develop a plan outline for building an energy powerhouse, accelerate the construction of a new energy system, and expand the application of green electricity. Strengthen the construction of the national carbon emission trading market. Implement comprehensive solid waste management actions, deepen the defense of blue sky, clear water, and clean land, and strengthen the treatment of new pollutants. Solidly promote the "Three North" project and implement the integration and optimization of natural protected areas. Strengthen the construction of meteorological monitoring, forecasting, and early warning systems, accelerate efforts to fill the gaps in flood control, drainage, and disaster relief infrastructure in northern regions, and improve the ability to cope with extreme weather conditions.
Seventh, we must adhere to the principle of putting people's livelihood first and strive to do more practical things for the people. Implement the action of stabilizing employment, expanding capacity, and improving quality, stabilize the employment of key groups such as college graduates and migrant workers, and encourage and support flexible employment personnel and new forms of employment personnel to participate in employee insurance. Promote the adjustment of the layout and structure of educational resources, increase the supply of regular high school degrees, and enroll high-quality undergraduate students in universities. Optimize centralized drug procurement and deepen the reform of medical insurance payment methods. Implement the rehabilitation nursing expansion and improvement project, promote the long-term care insurance system, and strengthen care and assistance for disadvantaged groups. Advocate for a positive attitude towards marriage and childbirth, and strive to stabilize the size of the newborn population. Solidly carry out work related to safety production, disaster prevention and mitigation, and food and drug safety.
Eighth, we must adhere to the bottom line and actively and prudently resolve risks in key areas. We will focus on stabilizing the real estate market, implement policies to control incremental growth, reduce inventory, and optimize supply according to the city, and encourage the purchase of existing commercial housing with a focus on affordable housing. Deepen the reform of the housing provident fund system and orderly promote the construction of "good houses". Accelerate the construction of a new model for real estate development. Actively and orderly resolve local government debt risks, urge localities to proactively reduce debt, and prohibit illegal addition of implicit debt. Optimize debt restructuring and replacement methods, and take multiple measures to resolve operational debt risks of local government financing platforms.
The meeting pointed out that we should consciously unify our thoughts and actions with the scientific judgment of the Party Central Committee on the situation, grasp the general trend of China's development, and firmly have confidence in future development. We must fully implement the overall requirements and policy orientation of next year's economic work, adhere to a positive and pragmatic goal orientation, focus on solving existing difficulties and problems, make greater breakthroughs in quality and effective improvement, and enhance the sense of gain for residents and enterprises; Enhance the synergy between reform and policies, and promote sustained improvement in economic performance and market expectations. We need to grasp the key focus points of next year's economic work in the overall situation, focusing on strengthening the domestic circulation and expanding new space for domestic demand growth; Focusing on the development of new quality productive forces, promoting the deep integration of scientific and technological innovation and industrial innovation; Focusing on stimulating the driving force and vitality of high-quality development, we will steadfastly deepen reform and expand opening up; Focus on continuously improving people's livelihood and well-being, and increase efforts to ensure and improve people's livelihoods; Focus on maintaining the bottom line of safety and prudently resolving risks in key areas.
The meeting emphasized the need to strengthen the Party's comprehensive leadership over economic work, form a unified will and a strong joint force. We must adhere to the centralized and unified leadership of the Party Central Committee, and comprehensively implement the Party Central Committee's ideas, tasks, and policies on next year's economic work in various regions and departments based on actual conditions and local conditions. We must establish and practice a correct view of political achievements, adhere to delivering political achievements for the people and through practical work, consciously follow the rules in handling affairs, and improve the differentiated assessment and evaluation system. We should formulate national and local "15th Five Year Plan" and special plans in accordance with the "Proposal" of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, and promote high-quality and sustainable development. To create a favorable political environment, talent environment, business environment, and public opinion environment, strengthen policy propaganda and interpretation, and fully stimulate positive social energy.
The meeting called for ensuring the supply of important livelihood commodities at the end and beginning of the year, caring for the production and life of disadvantaged groups, and resolutely preventing and curbing the occurrence of major accidents.
The meeting called on the whole party and the whole society to unite more closely around the Party Central Committee with Comrade Xi Jinping at the core, unite as one, forge ahead, and strive to achieve the goals and tasks of economic and social development next year, and ensure that the "15th Five-Year Plan" has a good start and a good start.
Members of the political Bureau of the CPC Central Committee, members of the Secretariat of the CPC Central Committee, vice chairman of the Central military Commission, 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
