The Political Bureau of the Communist Party of China Central Committee held a meeting to analyze and study the current economic situation and economic work.
According to a report by the Xinhua News Agency,the Political Bureau of the Central Committee of the Communist Party of China held a meeting on April 28th to analyze and study the current economic situation and economic work. General Secretary of the Communist Party of China Xi Jinping presides over the meeting.
The meeting concluded that since the beginning of this year, the CPC Central Committee, with the Chinese President Xi Jinping at its core, has strengthened its comprehensive leadership over economic work, focusing on the overall situation and making forward-looking plans. All regions and departments have made concerted efforts and implemented comprehensive measures, resulting in a robust start for China's economy, with key indicators exceeding expectations, demonstrating strong resilience and vitality.Meanwhile, we are also facing some difficulties and challenges, and the foundation for sustained and stable economic growth needs to be further consolidated. We must enhance our confidence and take greater efforts and more practical measures to ensure economic work is done well.
The meeting pointed out that we must adhere to the general working principle of seeking progress while maintaining stability, fully and accurately implement the new development concept, accelerate the establishment of a new development paradigm, better coordinate domestic and international situations, coordinate development and security, unswervingly deepen reform and opening up, promote technological self-reliance and self-strengthening, and ensure the independence and controllability of the industrial chain. We should accurately and effectively implement more proactive fiscal policies and moderately loose monetary policies, continue to expand domestic demand, optimize supply, increase quality increment, activate existing stock, focus on stabilizing employment, enterprises, markets, and expectations, enhance the endogenous driving force of economic development, further strengthen the domestic circulation, optimize the domestic and international dual circulation, and strive to achieve a good start for the 15th Five-Year Plan.
The meeting emphasized the need to fully utilize macro policies effectively. We should continue to optimize the structure of fiscal expenditure and ensure the bottom line of "three guarantees" at the grassroots level. We should enhance the forward-looking flexibility and pertinence of monetary policy and maintain ample liquidity. We should keep the RMB exchange rate basically stable at a reasonable and balanced level. We should also conduct a consistent assessment of the orientation of macro policies.
The meeting pointed out that we should tap into the potential of domestic demand. We should expand the supply of high-quality goods and services and promote consumption upgrading. We should thoroughly implement actions to expand and improve the service industry. We should strengthen the planning and construction of water networks, new power grids, computing power networks, new-generation communication networks, urban underground pipeline networks, logistics networks, etc. We should promote the commencement of major engineering projects with mature conditions.
The meeting emphasized the need to accelerate the construction of a modern industrial system and maintain a reasonable proportion of manufacturing. It stressed the importance of advancing the construction of a unified national market, thoroughly rectifying "involutionary" competition, comprehensively implementing the "AI+" initiative, developing new forms of intelligent economy, and improving AI governance. Furthermore, it advocated for further deepening the reform of state-owned assets and enterprises. The meeting also proposed a systematic response to external shocks and challenges, enhancing the level of energy and resource security, and addressing various uncertainties with the certainty of high-quality development.
The meeting pointed out that we should effectively prevent and resolve risks in key areas. We should strive to stabilize the real estate market and solidly promote urban renewal. We should orderly resolve the debt risks of local governments and focus on solving the problem of arrears in corporate accounts. We should promote the reform of small and medium-sized financial institutions, stabilize and enhance confidence in the capital market.
The meeting emphasized the need to strengthen the employment priority policy orientation, enhance the construction of people's livelihood in areas such as education, healthcare, and childcare. We should focus on agricultural production and stabilize the prices of agricultural products such as live pigs. We should improve the normalized assistance mechanism to ensure that large-scale poverty reoccurrence does not occur. We should also do a good job in work safety, disaster prevention and mitigation, food and drug safety, etc. We must carry out in-depth learning and education on establishing and practicing a correct view of political achievements, and transform the effectiveness of learning and education into practical results in promoting high-quality development.
