Xi chairs leadership meeting to study economic work

The Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on Friday to study and analyze current economic circumstances and make plans for related work for the second half of 2021.

The meeting was chaired by Xi Jinping, general secretary of the CPC Central Committee.

Since the beginning of this year, China has coordinated COVID-19 prevention and control with economic and social development, effectively implemented macro policies, and ensured sustained recovery and improvement in its economy, said the meeting.

The country has also actively advanced scientific and technological self-reliance, enhanced reform and opening-up, effectively guaranteed people's livelihood, achieved new results in high-quality development, and maintained overall social stability.

The meeting noted that the global COVID-19 situation is still evolving and Chinese economy faces an increasingly complex and grave external environment.

The domestic economic recovery is still unfirm and unbalanced, according to the meeting.

To ensure sound economic work for the second half of 2021, the meeting stressed upholding the underlying principle of pursuing progress while ensuring stability, and the full, accurate and comprehensive implementation of the new development philosophy.

The meeting urged more efforts to deepen the supply-side structural reform, accelerate the building of a new development paradigm, and advance China's high-quality development.

It also stressed maintaining consistent, stable and sustainable macro policies, sound coordination to mesh this year's policies with those for 2022, and keeping the Chinese economy running within an appropriate range.

The proactive fiscal policy should generate greater effect, while the prudent monetary policy should maintain reasonably ample liquidity and support the continued recovery of small and medium-sized enterprises as well as stressed industries.

The meeting stressed keeping the renminbi's exchange rate basically stable at a reasonable and balanced level. It also urged efforts to ensure supply and stable pricing of commodities.

The meeting demanded efforts to tap domestic market potential and support quicker development of the new energy vehicles.

Integration of the county's rural e-commerce system and express logistics distribution system, as well as construction on major projects in the 14th Five-Year Plan, should be accelerated, the meeting noted, promising more guidance for businesses to increase investment in technological upgrading.

Emphasizing the importance of strengthening technological innovation and industrial chain resilience, the meeting decided to carry out targeted campaigns to address "chokepoint" problems as well as develop specialized and innovative small and medium-sized enterprises.

China should stick to the high-level opening-up and unswervingly advance the high-quality development of the Belt and Road Initiative, said the statement.

The meeting called for the introduction of an action plan as soon as possible for achieving carbon peak before 2030. It urged putting an end to "whirlwind campaigns" for carbon reduction and resolutely curbing the pell-mell development of high-energy intensity and highly pollutive projects.

Efforts should be made to prevent and defuse risks in key fields and improve the regulation system on firms' overseas listings, according to the meeting.

The meeting stressed sticking to the principle of "houses are for living in, not for speculation," stabilizing the prices of lands, homes and expectation to promote the stable and sound development of the real estate market as well as accelerating the development of rental housing.

China should align efforts to consolidate and expand the achievements in poverty elimination with efforts to promote rural vitalization, the meeting said.

The three-child policy should be implemented and supporting policies on childbirth, child care and education should be further improved.

It called for solid efforts on flood control and disaster relief to safeguard the safety of people's lives and property, and further advancing the country's COVID-19 vaccination program.

The meeting also stressed sound preparations for the Beijing Olympic Winter Games and the Paralympic Winter Games.