Politburo meets

CPC Central Committee Politburo holds meeting

Analyzing and studying the current economic situation and economic work

General Secretary of the CPC Central Committee Xi Jinping presided over the meeting

Xinhua News Agency, Beijing, April 28 – The Political Bureau of the Central Committee of the Communist Party of China held a meeting on April 28 to analyze and study the current economic situation and economic work. Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting.

The meeting held that since the beginning of this year, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core, all regions and departments have better coordinated domestic and international situations, better coordinated epidemic prevention and control and economic and social development, and better coordinated development and security. Our country’s epidemic prevention and control has achieved a major decisive victory, the economy and society have fully resumed normal operation, macro policies have been coordinated at the forefront, the triple pressure of demand contraction, supply shocks, and weakening expectations has been eased, economic growth is better than expected, and market demand is gradually recovering. Economic development showed a positive trend of recovery, and the economic operation achieved a good start.

The meeting pointed out that the current improvement of our country’s economic operation is mainly restorative, the internal driving force is not strong, the demand is still insufficient, the economic transformation and upgrading are facing new resistance, and the promotion of high-quality development still needs to overcome many difficulties and challenges.

The meeting emphasized that it is necessary to carry out in-depth study and implementation of the theme education of Xi Jinping’s new era of socialism with Chinese characteristics, conscientiously implement the spirit of the Central Economic Work Conference, adhere to the general tone of the work of seeking progress while maintaining stability, fully, accurately and comprehensively implement the new development concept, accelerate the construction of new development, comprehensively deepen reform and opening up, combine the effectiveness of policies with stimulating the vitality of business entities, form a strong impetus to promote high-quality development, coordinate and promote the continuous improvement of economic operation, the continuous enhancement of endogenous power, the continuous improvement of social expectations, and the continuous resolution of risks and hidden dangers, take advantage of momentum, and promote the effective improvement of the economy and reasonable growth.

The meeting pointed out that in order to speed up the construction of a modern industrial system supported by the real economy, it is necessary to go against the trend and accelerate breakthroughs in areas of weakness, but also to follow the trend and become bigger and stronger in areas of advantage. It is necessary to consolidate the foundation of self-reliance and self-improvement in science and technology, and cultivate and grow new kinetic energy. It is necessary to consolidate and expand the development advantages of new energy vehicles, and accelerate the construction of batteries, energy storage and other facilities and the transformation of supporting power grids. We must attach importance to the development of general artificial intelligence, create an innovative ecology, and pay attention to preventing risks.

The meeting emphasized that the recovery and expansion of demand is the key to the continuous recovery of the current economy. A proactive fiscal policy must be strengthened to improve efficiency, and a prudent monetary policy must be precise and powerful to form a joint force to expand demand. It is necessary to increase the income of urban and rural residents through multiple channels, improve the consumption environment, and promote the consumption of services such as cultural tourism. It is necessary to give full play to the guiding role of government investment and policy incentives, and effectively stimulate private investment.

The meeting pointed out that it is necessary to adhere to the “two unshakable” principles, remove legal and regulatory obstacles and hidden barriers that affect fair competition and common development of enterprises of various ownerships, continue to boost the confidence of business entities, and help enterprises recover. All types of businesses must operate in compliance with laws and regulations. We must make up our minds to fundamentally solve the problem of corporate debt arrears. It is necessary to promote the standardized and healthy development of platform companies, and encourage leading platform companies to explore and innovate.

The meeting emphasized the need to comprehensively deepen reform and expand high-level opening up, conscientiously implement the reform plan of the party and state institutions, and promote the modernization of the national governance system and governance capabilities. Attracting foreign investment should be placed in a more important position, and the basic market of foreign trade and foreign investment should be stabilized. It is necessary to support the integration of qualified free-trade pilot zones and free-trade ports with international high-standard economic and trade rules, and carry out reform and opening up.

The meeting pointed out that it is necessary to effectively prevent and resolve risks in key areas, and coordinate the reform of small and medium-sized banks, insurance and trust institutions to reduce risks. We must adhere to the positioning that houses are for living in, not for speculation, implement policies according to the city, support rigid and improved housing needs, do a good job in ensuring the delivery of buildings, people’s livelihood, and stability, promote the stable and healthy development of the real estate market, and promote the establishment of a new model of real estate development, actively and steadily promote the transformation of urban villages and the construction of “emergency” public infrastructure in megacities, and plan and construct affordable housing. It is necessary to strengthen local government debt management and strictly control new hidden debts. We must continue to do a good job in the prevention and control of the novel coronavirus epidemic.

The meeting emphasized that it was necessary to effectively protect and improve people’s livelihood, strengthen employment priority orientation, expand employment channels for college graduates, and stabilize the employment of key groups such as migrant workers. We must continue to do a good job in safe production with the sense of responsibility of “always rest assured”. It is necessary to ensure the power supply to meet the peak summer. It is necessary to consolidate and expand the achievements of poverty alleviation, ensure food production and supply of important agricultural products, and comprehensively promote rural revitalization. It is necessary to strengthen the governance of the ecological environment system. Leading cadres at all levels should take the lead in carrying out investigations and research, go to the problem, and effectively help enterprises and the grassroots to solve difficulties.