Another important Xi article

“Seeking Truth” magazine to publish important article by General Secretary Xi Jinping

“Several Major Issues in Current Economic Work”

Xinhua News Agency, Beijing, February 15 – The fourth issue of “Seeking Truth” magazine, to be published on February 16, will feature an important speech by Xi Jinping, General Secretary of the CPC Central Committee, President of the State, and Chairman of the Central Military Commission, at the Central Economic Work Conference on December 15, 2022, a part of “Several Major Issues in Current Economic Work”.

The article emphasizes that economic work in 2023 is full of complexities. It is necessary to proceed from the strategic overall situation, grasp the main contradictions, start from improving social psychological expectations and boost development confidence, grasp major key links, and do a good job.

The article points out that efforts should be made to expand domestic demand. Insufficient aggregate demand is a prominent contradiction facing the current economic operation. We must vigorously implement the strategy of expanding domestic demand and take more forceful measures to realize a virtuous circle of social reproduction. It is necessary to optimize policy measures and give full play to the basic role of consumption and the key role of investment. One is to give priority to the recovery and expansion of consumption. The second is to effectively drive the investment of the whole society through government investment and policy incentives. It is necessary to continue to give full play to the supporting role of exports in the economy and accelerate the construction of a strong trade country.

The article points out that it is necessary to speed up the construction of a modern industrial system. We must practice our internal strength and stand firm. Our country has the world’s most complete industrial system and the domestic market with the greatest potential. We must effectively improve the resilience and security of the industrial chain and supply chain, and pay close attention to making up for shortcomings and forging long ones. One is to ensure the smooth circulation of the national economy. Our country’s economy must ensure national security, basic livelihood, and normal operation of infrastructure and basic industries. The second is to accelerate the upgrading and development of the industrial system. It is necessary to plan ahead in key areas and comprehensively improve the modernization level of the industrial system, which not only consolidates the leading position of traditional advantageous industries, but also creates new competitive advantages.

The article pointed out that the “two unwaverings” must be effectively implemented. We must be clear and unambiguous, always adhere to the direction of socialist market economic reform, and adhere to the “two unwaverings”. The first is to deepen the reform of state-owned assets and state-owned enterprises and improve the core competitiveness of state-owned enterprises. The second is to optimize the development environment of private enterprises and promote the development and growth of private economy.

The article points out that more efforts should be made to attract and utilize foreign capital. Throughout the world, both developed countries and emerging economies regard attracting and utilizing foreign capital as a major national policy, and the international competition for attracting investment has become more intense. It is necessary to promote high-level opening up to the outside world, relying on the advantages of my country’s ultra-large-scale market, and attract global resource elements through the domestic cycle. It is necessary not only to retain high-quality stock foreign investment, but also to attract more high-quality foreign investment to improve the quality and level of trade and investment cooperation. . One is to expand market access. The second is to comprehensively optimize the business environment. The third is to do a good job in serving foreign-funded enterprises in a targeted manner.

The article points out that it is necessary to effectively prevent and resolve major economic and financial risks. We must persist in treating both symptoms and root causes, combining near and far, and firmly hold the bottom line of preventing systemic risks. One is to prevent systemic risks caused by the real estate industry. The second is to prevent and defuse financial risks. The third is to prevent and defuse the risk of local government debt.

The article emphasizes that there is still a lot of important work to be done in 2023. It is necessary to comprehensively promote rural revitalization and resolutely prevent large-scale poverty. Planning a new round of comprehensive and deepening reforms. Promote the high-quality development of the joint construction of the “Belt and Road”. In-depth implementation of major regional strategies and coordinated regional development strategies. Promote the green transformation of economic and social development and build a beautiful China.