Central Economic Work Conference held in Beijing
Xi Jinping delivered an important speech and Li Qiang made a concluding speech
Zhao Leji, Wang Huning, Cai Qiding, Xue Xiang, and Li Xi attended the meeting
From December 10th to 11th, the Central Economic Work Conference was held in Beijing. Xi Jinping, General Secretary of the CPC Central Committee, President of the State, and Chairman of the Central Military Commission, attended the meeting and delivered an important speech. Photo by Xinhua News Agency reporter Yan Yan
Xinhua News Agency, Beijing, December 11. The Central Economic Work Conference was held in Beijing from December 10 to 11. Xi Jinping, General Secretary of the CPC Central Committee, President of the State, and Chairman of the Central Military Commission, attended the meeting and delivered an important speech. Members of the Standing Committee of the Political Bureau of the CPC Central Committee Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang and Li Xi attended the meeting.
From December 10th to 11th, the Central Economic Work Conference was held in Beijing. Xi Jinping, General Secretary of the CPC Central Committee, President of the State, and Chairman of the Central Military Commission, attended the meeting and delivered an important speech. Photo by Xinhua News Agency reporter Xie Huanchi
In his important speech, Xi Jinping summarized the economic work in 2025, analyzed the current economic situation, and deployed the economic work in 2026. Li Qiang made a concluding speech and put forward requirements for implementing the spirit of General Secretary Xi Jinping’s important speech and doing a good job in economic work next year.
From December 10th to 11th, the Central Economic Work Conference was held in Beijing. Xi Jinping, General Secretary of the CPC Central Committee, President of the State, and Chairman of the Central Military Commission, attended the meeting and delivered an important speech. Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang and Li Xi attended the meeting. Photo by Xinhua News Agency reporter Xie Huanchi
The meeting pointed out that this year is an extraordinary year. The Party Central Committee with Comrade Xi Jinping at its core unites and leads the entire Party and people of all ethnic groups to face difficulties and work hard, unswervingly implement new development concepts, promote high-quality development, coordinate both domestic and international situations, and implement more positive and promising macro policies. The main goals of economic and social development will be successfully achieved. Our country’s economy is moving forward under pressure, developing in a new and optimal direction, the construction of a modern industrial system continues to advance, reform and opening up has taken new steps, positive progress has been made in resolving risks in key areas, and people’s livelihood protection has become more powerful. In the past five years, we have effectively responded to various shocks and challenges and promoted new and major achievements in the cause of the party and the country. The “14th Five-Year Plan” is about to come to a successful conclusion, and the new journey towards the second centenary goal has achieved a good start.
The meeting held that through practice, we have gained a new understanding and understanding of how to do economic work under the new situation: we must fully tap economic potential, we must adhere to both policy support and reform and innovation, we must achieve both “flexibility” and “management”, we must adhere to the close integration of investment in things and investment in people, and we must work hard to deal with external challenges.
The meeting pointed out that there are still many old problems and new challenges in my country’s economic development, the impact of changes in the external environment has deepened, the contradiction between strong domestic supply and weak demand is prominent, and there are many risks and hazards in key areas. Most of these are problems in development and transformation, which can be solved through hard work. The supporting conditions and basic trends of my country’s long-term economic growth have not changed. We must strengthen our confidence, make good use of our advantages, respond to challenges, and continuously consolidate and expand the momentum of economic stability and improvement.
The meeting emphasized that to do a good job in economic work next year, we must be guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the 20th Plenary Session of the Party, completely, accurately and comprehensively implement the new development concept, accelerate the construction of a new development pattern, strive to promote high-quality development, adhere to the general tone of the work of seeking progress while maintaining stability, better coordinate domestic economic work and international economic and trade struggles, better coordinate development and security, and implement more positive and promising policies Macroeconomic policies will enhance the forward-looking and targeted coordination of policies, continue to expand domestic demand, optimize supply, optimize increment, revitalize existing stocks, develop new productive forces in accordance with local conditions, deepen the construction of a unified national market, continue to prevent and resolve risks in key areas, and strive to stabilize employment, enterprises, markets, and expectations, promote effective improvement in quality and reasonable growth in quantity, maintain social harmony and stability, and achieve a good start in the “15th Five-Year Plan“.
The meeting pointed out that in terms of policy orientation for economic work next year, we must persist in seeking progress while maintaining stability, improving quality and efficiency, giving full play to the integrated effect of existing and incremental policies, increasing counter-cyclical and inter-cyclical adjustments, and improving the effectiveness of macroeconomic governance. We must continue to implement more proactive fiscal policies. Maintain necessary fiscal deficits, total debt scale, and total expenditures, strengthen scientific fiscal management, optimize the structure of fiscal expenditures, and standardize tax preferential and fiscal subsidy policies. Pay attention to solving local financial difficulties and secure the bottom line of “three guarantees” at the grassroots level. We must strictly enforce financial and economic disciplines and insist that party and government agencies live a tight life. We must continue to implement moderately loose monetary policy. Taking the promotion of stable economic growth and reasonable price recovery as an important consideration in monetary policy, flexible and efficient use of various policy tools such as reserve requirement ratio and interest rate cuts, maintaining sufficient liquidity, smoothing the monetary policy transmission mechanism, and guiding financial institutions to increase support for key areas such as expanding domestic demand, technological innovation, and small, medium and micro enterprises. Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. It is necessary to enhance the consistency and effectiveness of macro policy orientation. Incorporate various economic and non-economic policies, stock policies and incremental policies into the consistency assessment of macro policy orientation. Improve the expectation management mechanism and boost social confidence.
The meeting determined that the following key tasks will be carried out in economic work next year.
First, we must adhere to domestic demand and build a strong domestic market. We will further implement special actions to boost consumption and formulate and implement plans to increase the income of urban and rural residents. Expand the supply of high-quality goods and services. Optimize the implementation of the “two new” policies. Clean up unreasonable restrictive measures in the field of consumption and release the potential of service consumption. Promote investment to stop falling and stabilize, appropriately increase the scale of investment within the central budget, optimize the implementation of “double” projects, optimize the use management of local government special bonds, continue to play the role of new policy financial instruments, and effectively stimulate the vitality of private investment. Promote urban renewal with high quality.
The second is to persist in innovation-driven development and step up efforts to cultivate and expand new driving forces. Formulate an integrated plan to promote the development of educational science and technology talents. Build international science and technology innovation centers in Beijing (Beijing-Tianjin-Hebei), Shanghai (Yangtze River Delta), and the Guangdong-Hong Kong-Macao Greater Bay Area. Strengthen the dominant position of enterprises in innovation and improve the intellectual property protection system in emerging fields. Formulate an action plan to expand capacity and improve quality of the service industry. Implement a new round of high-quality development actions for key industrial chains. Deepen and expand “artificial intelligence +” and improve artificial intelligence governance. Innovative technological financial services.
The third is to persist in reform and tackle key problems and enhance the vitality of high-quality development. We will formulate regulations on the construction of a unified national large market and thoroughly rectify “involvement” competition. Formulate and implement plans to further deepen the reform of state-owned assets and state-owned enterprises, and improve the supporting laws and regulations and policies of the Private Economy Promotion Law. Step up efforts to clean up outstanding corporate accounts. Promote the win-win development of platform enterprises, operators and workers within the platform. Expand the pilot market-oriented reform of factors. Improve the local tax system. We will further promote the reduction and improvement of quality of small and medium-sized financial institutions, and continue to deepen the comprehensive reform of investment and financing in the capital market.
The fourth is to persist in opening up to the outside world and promote win-win cooperation in multiple fields. We will steadily advance institutional opening up, expand independent opening up in the service sector in an orderly manner, optimize the layout of the free trade pilot zone, and solidly advance the construction of the Hainan Free Trade Port. Promote the integration of trade and investment and the integrated development of domestic and foreign trade. Encourage and support service exports and actively develop digital trade and green trade. Deepen the reform of foreign investment promotion systems and mechanisms. Improve the overseas comprehensive service system. Promote high-quality development of the Belt and Road Initiative. Promote the negotiation and signing of more regional and bilateral trade and investment agreements.
Fifth, adhere to coordinated development and promote urban-rural integration and regional linkage. Coordinate and promote urbanization construction and comprehensive rural revitalization with county towns as an important carrier, and promote high-quality development of county economies. Strictly adhere to the red line of cultivated land, never relax efforts to ensure grain production, and maintain prices of grain and other important agricultural products at reasonable levels. We will continue to consolidate and expand the results of poverty alleviation, incorporate regular assistance into the overall planning and implementation of the rural revitalization strategy, and safeguard the bottom line of preventing large-scale return to poverty. Support the economically powerful provinces in taking the lead. Strengthen coordination and linkage in key urban agglomerations and deepen cross-administrative region cooperation. Strengthen the overall planning of major bays and promote high-quality development of the marine economy.
Sixth, adhere to the “dual carbon” leadership and promote comprehensive green transformation. Deeply promote energy-saving and carbon-reduction transformation in key industries. We will formulate an outline plan for building an energy power, accelerate the construction of new energy systems, and expand the application of green electricity. Strengthen the construction of the national carbon emissions trading market. We will implement comprehensive solid waste management actions, in-depth fight to defend blue skies, clear water, and pure land, and strengthen the management of new pollutants. We will solidly advance the “Three North” project and implement the integration and optimization of natural protected areas. Strengthen the construction of meteorological monitoring, forecasting and early warning systems, step up efforts to make up for the shortcomings in flood control, drainage and disaster relief infrastructure in the northern region, and improve the ability to cope with extreme weather.
Seventh, we should adhere to people’s livelihood as the top priority and strive to do more practical things for the people. We will implement actions to stabilize jobs, expand capacity and improve quality, stabilize the employment of key groups such as college graduates and migrant workers, and encourage and support people with flexible employment and new forms of employment to participate in employee insurance. Promote the adjustment of the layout and structure of educational resources and increase the supply of ordinary high school degrees and undergraduate enrollment in high-quality colleges and universities. Optimize the centralized procurement of drugs and deepen the reform of medical insurance payment methods. Implement rehabilitation nursing capacity expansion and upgrading projects, promote long-term care insurance system, and strengthen care and assistance for needy groups. Advocate a positive view on marriage and childbirth and strive to stabilize the size of the newborn population. We will do a solid job in production safety, disaster prevention, reduction and relief, and food and drug safety.
Eighth, we must adhere to the bottom line and actively and steadily resolve risks in key areas. Efforts will be made to stabilize the real estate market, and city-specific policies will be implemented to control increment, destock, and optimize supply, and encourage the acquisition of existing commercial housing to be used mainly for affordable housing. Deepen the reform of the housing provident fund system and promote the construction of “good houses” in an orderly manner. Accelerate the construction of a new model of real estate development. Actively and orderly resolve local government debt risks, urge local governments to take the initiative in borrowing, and prohibit new hidden debts in violation of regulations. Optimize debt restructuring and replacement methods, and take multiple measures to resolve operating debt risks of local government financing platforms.
The meeting pointed out that we must consciously unify our thoughts and actions with the Party Central Committee’s scientific judgment of the situation, grasp the general trend of my country’s development, and strengthen our confidence in future development. It is necessary to fully implement the overall requirements and policy orientation of economic work next year, adhere to a positive and pragmatic goal orientation, focus on solving existing difficult problems, make greater breakthroughs in effective qualitative improvement, and enhance the sense of gain for residents and enterprises; enhance the synergy between reform and policy, and promote economic operations and market expectations to continue to improve. We must grasp the key focus of next year’s economic work in the overall situation, focus on strengthening the domestic cycle and expand new space for domestic demand growth; focus on developing new productive forces, promote the deep integration of technological innovation and industrial innovation; focus on stimulating the power and vitality of high-quality development, unswervingly deepen reform and expand opening up; focus on continuously improving people’s livelihood and well-being, increase efforts to protect and improve people’s livelihood; focus on guarding the bottom line of safety, and steadily do a good job in mitigating risks in key areas.
The meeting emphasized the need to strengthen the party’s overall leadership over economic work and form a unified will and strong synergy. It is necessary to uphold the centralized and unified leadership of the Party Central Committee, and all regions and departments should fully implement the ideas, tasks, and policies of the Party Central Committee on economic work next year in light of actual conditions and local conditions. It is necessary to establish and practice a correct view of political performance, persist in achieving political achievements for the people, achieve political achievements through hard work, consciously act in accordance with the rules, and improve the differentiated assessment and evaluation system. It is necessary to prepare national and local “15th Five-Year Plan” and special plans in accordance with the “Recommendations” of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China to promote high-quality and sustainable development. It is necessary to create a good political environment, talent environment, business environment, and public opinion environment, strengthen policy publicity and interpretation, and fully stimulate the positive energy of society.
The meeting requested that we should do a good job in ensuring the supply of important people’s livelihood commodities at the end of the year and the beginning of the year, care about the production and life of people in need, and resolutely prevent and contain major accidents.
The meeting called on the entire party and society to unite more closely around the Party Central Committee with Comrade Xi Jinping as the core, move forward as one, and strive to achieve next year’s economic and social development goals and tasks to ensure that the “15th Five-Year Plan” gets off to a good start.
Members of the Political Bureau of the CPC Central Committee, members of the Secretariat of the CPC Central Committee, Vice Chairman of the Central Military Commission, relevant leaders of the Standing Committee of the National People’s Congress, State Councilors, President of the Supreme People’s Court, Chief Prosecutor of the Supreme People’s Procuratorate, relevant leaders of the National Committee of the Chinese People’s Political Consultative Conference, and members of the Central Military Commission attended the meeting.
The meeting was attended by comrades in charge of the party and government of all provinces, autonomous regions, municipalities directly under the Central Government, cities under separate state planning, and the Xinjiang Production and Construction Corps, as well as comrades in charge of relevant departments of the central and state agencies, relevant people’s organizations, some financial institutions and enterprises managed by the central government, and departments of the Central Military Commission.
