The Central Economic Work Conference was held in Beijing from December 11 to 12. Xi Jinping, General Secretary of the Central Committee of the Communist Party of China, President of the People's Republic of China, and Chairman of the Central Military Commission, attended the conference and delivered an important speech. Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, and Li Xi, all members of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, also attended the conference.

In his important speech, Xi Jinping summarized the economic work of 2024, analyzed the current economic situation, and deployed the economic work for 2025. Li Qiang delivered a concluding speech, outlining requirements for implementing Xi Jinping's important speech and carrying out next year's economic work.

The conference acknowledged that this year is a crucial year for achieving the goals and tasks of the 14th Five-Year Plan. Faced with a complex and severe situation of increasing external pressure and growing internal difficulties, the Party Central Committee with Comrade Xi Jinping at its core united and led the people of all ethnic groups throughout the country to calmly respond to changes and adopt comprehensive measures, The economy has generally operated steadily and progressed steadily, high-quality development has been steadily advanced, and the main goals and tasks of economic and social development are about to be successfully completed. New productive forces have steadily developed, reform and opening up have continued to deepen, risks in key areas have been resolved in an orderly and effective manner, people's livelihood has been guaranteed in a solid and forceful way, and China's modernization has taken new and solid steps. The development process of the past year has been extraordinary, and the achievements are encouraging, In particular, the resolute deployment of a package of incremental policies by the Central Political Bureau meeting on September 26 effectively boosted social confidence and led to a significant economic rebound. 。

The conference pointed out that the adverse effects of changes in the external environment are deepening, and China's economic operation still faces many difficulties and challenges, mainly insufficient domestic demand, difficulties in production and operation for some enterprises, pressure on employment and income growth for the masses, and still relatively many risks and hidden dangers. At the same time, it must be recognized that China's economic foundation is stable, its advantages are numerous, its resilience is strong, and its potential is great, The long-term supportive conditions and basic trends for positive development remain unchanged. We must face difficulties squarely, maintain confidence, and strive to transform positive factors from all aspects into actual development achievements.

The conference believes that in practice, we have continuously deepened our understanding of the laws governing economic work. The centralized and unified leadership of the Party Central Committee is the fundamental guarantee for doing a good job in economic work. At critical moments and important junctures, the Party Central Committee makes timely judgments on the situation and makes decisions and deployments to ensure that China's economic ship sails through wind and waves, sailing steadily and far. It is necessary to coordinate the relationship between an effective market and a capable government, forming an economic order that is both "flexible" and "controllable". It is necessary to coordinate The relationship between aggregate supply and aggregate demand to ensure smooth circulation of the national economy. It is necessary to coordinate The relationship between cultivating new driving forces and updating old driving forces to develop new productive forces in a way that suits local conditions. It is necessary to coordinate well the relationship between optimizing incremental factors and revitalizing existing stock, to comprehensively improve resource allocation efficiency. It is necessary to coordinate The relationship between improving quality and increasing total quantity to consolidate the material foundation of Chinese-style modernization.

The conference emphasized that to do a good job in next year's economic work, we must be guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the 20th National Congress of the Communist Party of China and the second and third plenary sessions of the 20th Central Committee, adhere to the general work guideline of pursuing progress while maintaining stability, fully and accurately implement the new development philosophy, accelerate the construction of a new development pattern, solidly promote high-quality development, further comprehensively deepen reforms, expand high-level opening to the outside world, build a modern industrial system, better coordinate development and security, implement more proactive and effective macroeconomic policies, expand domestic demand, promote the integrated development of technological innovation and industrial innovation, stabilize the real estate and stock markets, prevent and resolve risks in key areas and external shocks, stabilize expectations, stimulate vitality, promote sustained economic recovery and improvement, continuously improve people's living standards, maintain social harmony and stability, achieve the goals and tasks of the 14th Five-Year Plan with high quality, and lay a solid foundation for a good start to the 15th Five-Year Plan.

The conference pointed out that, Next year, we must maintain stable economic growth, maintain overall stability in employment and prices, maintain a basic balance of international payments, and promote synchronized growth of residents' income and economic growth. 。

The conference called for adhering to the principle of pursuing progress while maintaining stability and promoting stability through progress next year, upholding the right principles while embracing innovation and prioritizing establishment before breaking down existing structures, integrating systems and coordinating efforts, enriching and improving the policy toolbox, and enhancing the foresight, pertinence, and effectiveness of macroeconomic regulation.

More proactive fiscal policies should be implemented Increase the fiscal deficit rate to ensure that fiscal policies remain forceful and even more effective. Increase the intensity of fiscal spending and strengthen support in key areas. Increase the issuance of ultra-long-term special government bonds to continuously support "two major" projects and the implementation of "two new" policies. Increase the issuance and use of local government special bonds, expanding the scope of investment areas and use as project capital. Optimize the structure of fiscal expenditure, improve the efficiency of fund use, pay more attention to benefiting people's livelihood, promoting consumption, and increasing momentum, and safeguard the bottom line of "three guarantees" at the grassroots level. Party and government organs should maintain a frugal lifestyle.

A moderately loose monetary policy should be implemented Give full play to the dual functions of monetary policy tools in terms of quantity and structure, reduce reserve requirements and interest rates in a timely manner, maintain ample liquidity, and ensure that the growth of social financing scale and money supply matches the economic growth and expected price level targets. Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. Explore and expand the macro-prudential and financial stability functions of the central bank, innovate financial tools, and maintain financial market stability.

A combination of policies should be implemented Strengthen the coordination of fiscal, monetary, employment, industrial, regional, trade, environmental protection, and regulatory policies and reform and opening-up measures, improve the mechanism for effective communication and consultation feedback among departments, and enhance policy synergy. Integrate economic policies and non-economic policies into the consistency assessment of macroeconomic policy orientation, coordinate the entire process of policy formulation and implementation, and improve the overall effectiveness of policies.

The conference determined that the following key tasks should be undertaken next year: 。

First, vigorously boost consumption, improve investment efficiency, and comprehensively expand domestic demand. Implement special actions to boost consumption, promote income growth and tax reduction for low- and middle-income groups, and enhance consumption capacity, willingness, and levels. Appropriately increase the basic pension for retirees, increase the basic pension for urban and rural residents, and increase the fiscal subsidy standard for urban and rural resident medical insurance. Increase efforts to expand the implementation of the "two new" policies, innovate diversified consumption scenarios, expand service consumption, and promote the development of the cultural and tourism industry. Actively develop the first-mover economy, ice and snow economy, and silver-haired economy. Strengthen top-down organizational coordination and provide greater support for "two major" projects. Appropriately increase central budgetary investment. Strengthen the coordination between finance and finance, and effectively leverage government investment to drive social investment. Plan major projects for the 15th Five-Year Plan in advance. Vigorously implement urban renewal Implement a special action to reduce the overall logistics costs of society.

Second, we will use technological innovation to lead the development of new productive forces and build a modernized industrial system Strengthen basic research and the tackling of key core technologies, proactively plan major scientific and technological projects, Launch large-scale application demonstration actions for new technologies, new products, and new scenarios Launch the "Artificial Intelligence +" action, cultivate future industries. Strengthen the construction of national strategic scientific and technological forces. Improve the multi-level financial service system, expand patient capital, attract social capital to participate in venture capital with greater efforts, and cultivate innovative enterprises in a tiered manner. Comprehensively rectify "involutionary" competition and regulate the behavior of local governments and enterprises. Actively use digital and green technologies to transform and upgrade traditional industries.

Third, give full play to the leading role of economic system reform and promote the implementation and effectiveness of landmark reform measures High-quality completion of the deepening and upgrading action of state-owned enterprise reform, Promulgate the Private Economy Promotion Law Carry out special actions to regulate law enforcement involving enterprises. Formulate guidelines for the construction of a nationwide unified large market. Strengthen regulation and promote the healthy development of the platform economy. Comprehensively promote fiscal and tax system reform and increase the financial autonomy of local governments. Deepen the comprehensive reform of capital market investment and financing, clear the bottlenecks for the entry of medium and long-term funds into the market, and enhance the inclusiveness and adaptability of the capital market system.

Fourth, expand high-level opening up, stabilize foreign trade and foreign investment Orderly expand autonomous opening up and unilateral opening up, steadily expand institutional opening up, promote the improvement of free trade pilot zones and the expansion of reform task authorization, and accelerate the implementation of core policies in Hainan Free Trade Port. Actively develop service trade, green trade, and digital trade. Deepen the reform of the foreign investment promotion system and mechanism. Steadily promote the opening up of the service industry, expand pilot programs in areas such as telecommunications, medical care, and education, and continue to build the "Invest in China" brand. Promote high-quality joint construction of the "Belt and Road" initiative to go deeper and achieve greater results, and improve the overseas comprehensive service system.

Fifth, effectively prevent and resolve risks in key areas and firmly uphold the bottom line of preventing systemic risks Continuously work to promote the stabilization of the real estate market, strengthen the implementation of the renovation of urban villages and dilapidated houses, and fully release the potential demand for rigid and improved housing. Reasonably control the supply of newly added real estate land, Revitalize existing land and commercial and office buildings, and promote the disposal of existing commercial housing Promote the construction of a new model for real estate development and orderly establish relevant basic systems. Steadily handle risks in local small and medium-sized financial institutions. Central and local governments work together to crack down on illegal financial activities.

Sixth, comprehensively promote new-type urbanization and rural revitalization, and promote integrated urban-rural development 。 Strictly adhere to the red line for cultivated land and strictly manage the balance between cultivated land occupation and compensation Do a good job in ensuring a stable supply of grain and important agricultural products, and improve the comprehensive benefits and competitiveness of agriculture. Protect the enthusiasm of grain farmers and major grain-producing areas, and improve the grain price formation mechanism. Promote the integrated development of industry, county, and people's livelihood based on local conditions, and explore various ways to expand farmers' income channels. Develop modern metropolitan areas Improve the level of modernized governance in megacities and ultra-large cities, and vigorously develop county economies.

Seventh, increase the intensity of regional strategy implementation and enhance regional development vitality Give full play to the superimposed effects of regional coordinated development strategies, major regional strategies, and main functional area strategies, and actively cultivate new growth poles. Enhance the innovation capacity and radiation driving role of economically advantageous regions. Support economically strong provinces to take on greater responsibilities, and encourage other regions to adapt to local conditions and demonstrate their strengths. Deepen industrial cooperation among the eastern, central, western, and northeastern regions, and vigorously develop the ocean economy and bay area economy.

Eighth, synergistically promote carbon reduction, pollution reduction, greening, and growth, and accelerate the comprehensive green transformation of economic and social development Further deepen the reform of the ecological civilization system. Create a healthy development ecosystem for green and low-carbon industries, and cultivate new growth points such as green buildings. Promote the achievement of important results in the landmark battles of the "Three Norths" project and accelerate the construction of "sand, gobi, and desert" new energy bases. Establish a number of zero-carbon parks, promote the construction of the national carbon market, establish a product carbon footprint management system and carbon label certification system. Continue to deepen the battle to protect blue skies, clear waters, and fertile lands. Formulate a comprehensive governance action plan for solid waste. Implement major projects for biodiversity conservation. Strengthen the construction of natural disaster prevention and control systems.

Ninth, increase efforts to guarantee and improve people's livelihood and enhance the sense of gain, happiness, and security among the people Implement employment support plans for key areas, key industries, urban and rural grassroots levels, and small and micro enterprises, and promote employment among key groups. Strengthen the protection of the rights and interests of flexible employment and new employment forms. Implement supporting policies for industries and employment to ensure that no large-scale return to poverty occurs and guarantee the basic livelihood of vulnerable groups. Promote the high-quality and balanced development of compulsory education and steadily promote the expansion of high-quality undergraduate education. Implement the basic medical and health strengthening project and formulate policies to promote childbirth. Develop community-supported home-based elderly care and expand inclusive elderly care services. Uphold and develop the "Fengqiao Experience" of the new era and strengthen the systematic governance of public security.

The meeting pointed out that we must consciously use the Party Central Committee's scientific judgment of the situation Unify thinking, will, and action Grasp the general trend and strengthen confidence, while also facing difficulties and maintaining sobriety. We must fully implement the overall requirements and policy orientations for next year's economic work, focusing on goal-oriented guidance, and striving to achieve an optimal combination of stable growth, stable employment, and a reasonable rebound in prices; grasp the policy orientation, pay attention to timing and intensity, and ensure that all work is done as early as possible and implemented effectively, ensuring sufficient intensity; strengthen systematic thinking, pay attention to the coordinated cooperation of various policies and reform and opening-up measures, and amplify policy effects. We must seize key links to complete the key tasks of next year's economic work, In response to the prominent problem of insufficient demand, we will focus on boosting domestic demand, especially residents' consumption demand In response to deep-seated obstacles and external challenges hindering development, we will unswervingly deepen reform and expand opening up; in response to bottlenecks restricting industrial transformation and upgrading, we will promote the smooth transition of old and new driving forces; in response to the concerns and demands of enterprises in their operations, we will strengthen policy support and optimize regulatory services; in response to risks and hidden dangers in key areas, we will continuously work to promote risk resolution. We must vigorously improve the effectiveness of implementation, fully mobilize the initiative, proactiveness, and creativity of the grassroots, continuously optimize the business environment, and better unite and promote the concerted efforts for high-quality development.

The meeting emphasized that, We must strengthen the Party's leadership over economic work, adhere to the principle of "getting things done," enhance confidence, meet challenges head-on, and strive to ensure that all decisions and deployments of the Party Central Committee are implemented. To strengthen positive incentives and stimulate intrinsic motivation for undertaking tasks and starting businesses. Effectively reduce burdens on the grassroots level, enabling capable and willing cadres to work and achieve results. Unyieldingly punish corruption, maintaining a fair and just market environment and a clean and honest business environment. Adhere to pragmatism and resolutely oppose formalism and bureaucratism that focuses on appearances to superiors, neglects responsibilities to subordinates, and disregards effectiveness. Coordinate development and security, focusing on safety production, effectively preventing and responding to social security incidents in a timely manner. Enhance collaboration and oppose departmentalism to form a concerted effort to ensure implementation. Strengthen expectation management, collaboratively promoting policy implementation and guidance, and improving policy guidance and influence. At the same time, accurately grasp the world situation, national conditions, party conditions, and social conditions, strengthen strategic planning, and formulate the Central Committee's 15th Five-Year Plan proposal.

The meeting called for ensuring the smooth completion of livelihood security and social stability work at the end of the year and the beginning of the next, thoroughly investigating and resolving various contradictions, disputes, and risks to ensure social stability.

The meeting called on the entire Party, the entire country, and the entire society to unite more closely around the Party Central Committee with Comrade Xi Jinping at its core, earnestly implement the various deployments of the meeting, and fully achieve the economic and social development goals and tasks. With the actual results of high-quality development, comprehensively promote the great cause of national rejuvenation and building a strong country. 。

Members of the Political Bureau of the CPC Central Committee, members of the Secretariat of the CPC Central Committee, relevant leading comrades of the National People's Congress Standing Committee, State Councilors, the President of the Supreme People's Court, the Procurator-General of the Supreme People's Procuratorate, relevant leading comrades of the National Committee of the Chinese People's Political Consultative Conference, and members of the Central Military Commission attended the meeting.

Provinces, autonomous regions, municipalities directly under the Central Government, and cities separately planned Main leading comrades of the Xinjiang Production and Construction Corps, relevant departments of the central and state organs, relevant people's organizations, some centrally managed financial institutions and enterprises, and main leading comrades of various departments of the Central Military Commission attended the meeting.

To gain a deeper understanding of the investment and development of the tourism industry, the China Tourism Academy, in conjunction with the China Amusement Machine and Amusement Park Association and other units, is conducting a special research activity on investment in the tourism industry, and sincerely invites all member units and tourism enterprises to participate in the research.

▲Scan the QR code to fill out the questionnaire