CPC leadership holds meeting to study economic work

Published:May 07,2022

The Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on Friday to study and analyze the current economic situation and related work.

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

Though China’s economy has got off to a good start this year with hard-won achievements, the meeting pointed out that amid the COVID-19 pandemic and Ukraine crisis, China’s development environment is increasingly volatile, grave and uncertain and the country is facing new challenges of stabilizing growth, employment and price.

Effectively protecting and improving people’s livelihood is vital, the meeting stressed, urging efforts to put the CPC Central Committee’s major policies into practice.

The meeting made clear that the country should stick to prevent and control the epidemic, stabilize the economy and ensure both development and security.

As the fast-spreading variants of COVID-19 feature a large number of mutations, the meeting called for effectively coordinating efforts between epidemic containment and economic and social development and unswervingly putting people and their lives first.

The country will stick to its strategy of preventing imported infections and domestic flare-ups while adhering to dynamic zero-COVID policy, the meeting said, adding the country will manage to achieve maximum protection of people’s lives and health while minimizing the impact of the epidemic on the country’s economic and social development.

The meeting urged efforts to improve the country’s range based regulation of macroeconomic policies, striving for achieving the expected goals of economic and social development throughout the year.

It added the country should keep major economic indicators within an appropriate range, implement tax and fee cut policies and use diversified monetary tools.

To expand domestic demand, the role of investment and consumption should be emphasized, the meeting stressed, adding support for land use, energy use, and environmental impact assessment should be strengthened and infrastructure construction should also be comprehensively advanced.

For micro, small, and medium-sized enterprises and self-employed individuals heavily impacted by the pandemic, a range of policies should be rolled out in a timely manner to offset the impact of the epidemic, according to the meeting.

The meeting stressed the necessity of keeping supply and prices of energy resources stable, ensuring steady preparation for spring plowing as well as ensuring the supply of important livelihood commodities in the country.

Calling for ensuring a coordinated national response, the meeting said the country should ensure the smooth flow of logistics and ensure the supply chain of key industries especially those vital to supply chains, providers of logistics services and anti-COVID supplies.

The country will continue to effectively control risks and act against systemic financial risks, the meeting stressed.

Acting on the principle that houses are for living in, not for speculation, the country will implement city-specific policies to promote steady and healthy development of the real estate market, the meeting noted.

The meeting also called on the country to deliver in one’s work, accelerate the construction of the new development paradigm, unswervingly deepen the supply-side structural reform, achieve sci-tech self-reliance and self-strengthening at higher levels and build a strong and resilient national economic cycle.

The country should pursue high-standard opening-up and actively respond to the concerns of foreign enterprises to support them to better invest and start operations in China, the meeting said, urging to stabilize the overall performance of foreign trade and foreign investment.

Xinhua