The Political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and economic work. Xi Jinping, General Secretary of the CPC Central Committee, presided over the meeting.
2024.09.29
Xinhua News Agency, Beijing, September 26th. The Political Bureau of the CPC Central Committee held a meeting on September 26th to analyze and study the current economic situation and plan next steps for economic work. Xi Jinping, General Secretary of the CPC Central Committee, presided over the meeting.The meeting believes that since the beginning of this year, the Party Central Committee with Comrade Xi Jinping at its core has led the people of all ethnic groups in the country to overcome difficulties, respond calmly, strengthen macro-control, deepen reform and opening up, expand domestic demand, and optimize the economic structure. The economy is generally stable and making progress, new productive forces are developing steadily, people's livelihoods are well protected, and positive progress has been made in preventing and resolving risks in key areas. High-quality development is being promoted solidly, and the overall social situation remains stable.The meeting pointed out that the basic characteristics of China's economy, as well as favorable conditions such as a broad market, strong economic resilience, and great potential, remain unchanged. At the same time, some new situations and problems have emerged in the current economic operation. It is necessary to view the current economic situation comprehensively, objectively, and calmly, face difficulties head-on, and maintain confidence. We must effectively enhance the sense of responsibility and urgency in carrying out economic work. We should focus on key areas, take proactive actions, effectively implement existing policies, introduce additional policies, and further improve the relevance and effectiveness of policy measures, so as to achieve the annual economic and social development goals.The meeting emphasized the need to strengthen counter-cyclical adjustments in fiscal and monetary policy, ensure necessary fiscal expenditures, and effectively carry out the "three guarantees" at the grassroots level. It is necessary to issue and utilize ultra-long-term special national bonds and local government special bonds well, so as to better leverage government investment's driving effect. The deposit ratio should be reduced, and effective interest rate cuts should be implemented. The real estate market needs to stabilize after declining; for commercial housing construction, the increase in new projects should be controlled, the existing stock should be optimized, and quality should be improved. The loan supply for "white list" projects should be increased to support the revitalization of idle land. Responses should be provided to public concerns by adjusting housing purchase restrictions, lowering existing mortgage rates, and promptly improving policies on land, finance, and taxation to promote a new model for real estate development. Efforts should be made to boost the capital market, actively guide medium- and long-term funds into the market, and resolve barriers to the entry of funds from social security, insurance, and financial management. Support for listed companies' mergers and reorganizations should be provided, public fund reforms should be carried out steadily, and policies to protect small and medium investors should be studied and implemented.The meeting pointed out that it is necessary to help enterprises overcome difficulties and further standardize law enforcement and supervision practices related to enterprises. A law promoting the private economy should be introduced to create a favorable environment for the development of non-public ownership economies. Consumption promotion and benefits to people's livelihoods should be combined to increase income for low- and middle-income groups and improve the consumption structure. New types of consumer formats need to be developed. Support and regulate the development of elderly care and childcare industries by social forces, and promptly improve the policy system to support childbirth. Efforts should be made to attract and stabilize capital, and reform measures such as foreign investment access in the manufacturing sector should be accelerated and implemented to further optimize a first-class business environment that is market-oriented, law-based, and internationalized.The meeting emphasized the need to ensure the stability of basic living standards. Focus should be placed on providing employment opportunities for fresh college graduates, migrant workers, people out of poverty, and zero-employment families. Support should be enhanced for groups facing employment difficulties due to age, disability, or long-term unemployment. Assistance for low-income populations should be strengthened. It is necessary to ensure the supply and stable prices of essential goods such as food, water, electricity, and gas. Agricultural production, including grain and food cultivation, must be effectively managed to help farmers increase their income. Production efforts in autumn and winter should be prioritized to ensure national food security.The meeting requires that all regions and departments earnestly implement the decisions and arrangements of the Central Committee. We must prioritize action and unite as one, fully stimulating the enthusiasm, initiative, and creativity of the whole society to promote high-quality development and ensure a sustained recovery of the economy. Party members and cadres should be brave in taking responsibility and innovating, enhancing their capabilities and achieving results through challenges. We need to set a good example in talent selection and implement the "three distinctions" effectively, providing support for those who take on responsibilities and for those who work hard. We should support major economic provinces to play a leading role and better serve as pillars in driving development.The meeting also discussed other matters.
Source: Xinhua News Agency
