Full text & analysis: China's Central Economic Work Conference
The conferences emphasizes the balance between speed and quality, macro and micro perspectives, economic development and people's well-being, and development and security.
China's annual Central Economic Work Conference was held in Beijing from December 11th to 12th. With strong support from He Yuzhe, I completed the translation of the full-text official readout of the conference. In addition, I listed ten key points of the readout with some personal analysis at the beginning:
1. The conference's evaluation of China's economic development & achievement in 2023:
... 我国经济回升向好，高质量发展扎实推进。现代化产业体系建设取得重要进展，科技创新实现新的突破，改革开放向纵深推进，安全发展基础巩固夯实，民生保障有力有效，全面建设社会主义现代化国家迈出坚实步伐。
... China's economy has achieved a recovery, with solid progress made in high-quality development in 2023. Significant progress has been made in building a modern industrial system, new breakthroughs in scientific and technological innovation, deeper reform and opening up, and a solid foundation for security development. The well-being of the people has been effectively guaranteed, and solid steps have been taken in building a modern socialist country comprehensively.
2. The conference's evaluation of the difficulties and challenges for China's economy:
会议指出，进一步推动经济回升向好需要克服一些困难和挑战，主要是有效需求不足、部分行业产能过剩、社会预期偏弱、风险隐患仍然较多，国内大循环存在堵点，外部环境的复杂性、严峻性、不确定性上升。要增强忧患意识，有效应对和解决这些问题。
The meeting pointed out that to further revive the economy, China still has to overcome some difficulties and challenges, including lack of effective demand, overcapacity in some sectors, lackluster social expectations, certain risks and hidden problems, bottlenecks in the domestic circulation, as well as rising complexity, severity and uncertainty of the external environment. It is important to be more mindful of potential dangers and to effectively respond to and solve these problems.
3. Economic work for 2024: The phrase "先立后破" (establishing the new before abolishing the old) is especially important for China's economy during the transition period from old to new momentum. The practices formed during China's long-term reform process, such as 摸着石头过河 "crossing the river by feeling the stones" and 渐进试点 "gradual pilot testing", are examples of the approach of first establishing and developing, then addressing problems.
会议强调，做好明年经济工作，要以习近平新时代中国特色社会主义思想为指导，全面贯彻落实党的二十大和二十届二中全会精神，坚持稳中求进工作总基调，完整、准确、全面贯彻新发展理念，加快构建新发展格局，着力推动高质量发展，全面深化改革开放，推动高水平科技自立自强，加大宏观调控力度，统筹扩大内需和深化供给侧结构性改革，统筹新型城镇化和乡村全面振兴，统筹高质量发展和高水平安全，切实增强经济活力、防范化解风险、改善社会预期，巩固和增强经济回升向好态势，持续推动经济实现质的有效提升和量的合理增长，增进民生福祉，保持社会稳定，以中国式现代化全面推进强国建设、民族复兴伟业。
It was emphasized at the meeting that to do a good job in the economic work next year, it is necessary to follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the guiding principles of the 20th CPC National Congress and the Second Plenary Session of the 20th CPC Central Committee, adhere to the general principle of seeking progress while maintaining stability, and faithfully implement the new development philosophy on all fronts. It is also essential to accelerate the forging of a new development paradigm, focus on promoting high-quality development, comprehensively deepen reform and opening up, and build self-reliance and strength in high-level science and technology. It is imperative to intensify macro regulation, do a good job both in expanding domestic demand and deepening supply-side structural reform, ensure both new urbanization and rural revitalization across the board, and secure both high-quality development and high-level security. It is important to boost economic vitality, prevent and mitigate risks, improve social expectations, consolidate and promote the momentum of economic recovery, and effectively improve the quality of our economy and promote its growth within a reasonable range. It is important to improve people's well-being, maintain social stability, and make further progress in building China into a strong country and realizing the rejuvenation of the Chinese nation through a Chinese path to modernization.
会议要求，明年要坚持稳中求进、以进促稳、先立后破，多出有利于稳预期、稳增长、稳就业的政策，在转方式、调结构、提质量、增效益上积极进取，不断巩固稳中向好的基础。要强化宏观政策逆周期和跨周期调节，继续实施积极的财政政策和稳健的货币政策，加强政策工具创新和协调配合。
It was pointed out at the meeting that next year, we must adhere to the principle of seeking progress while maintaining stability, promoting stability through progress, and establishing the new before abolishing the old. It urged the introduction of more policies that will help stabilize expectations, growth and employment, as well as active endeavors to promote the transition of growth models, structural adjustment, and quality and efficiency improvement, so as to consolidate the foundation of stable economic development with positive outlook. The country should strengthen counter-cyclical and cross-cyclical adjustments of macro policies and continue to implement a proactive fiscal policy and a prudent monetary policy with strengthened innovation and coordination of policy tools.
4. Confidence. Insufficient demand and a lack of confidence among micro entities are key factors currently hampering the pace of economic recovery. Confidence is more important than gold. As 2024 will be the second year post-pandemic, with the scar effects gradually fading, expanding total demand, easing supply constraints, boosting market entity confidence, stimulating local government vitality, and stabilizing the real estate sector are crucial. With these measures, China may achieve an economic growth rate of around 5 percent next year as many domestic and international institutions forecast.
综合起来看，我国发展面临的有利条件强于不利因素，经济回升向好、长期向好的基本趋势没有改变，要增强信心和底气。
Overall, favorable conditions outweigh unfavorable factors in China's development, and the fundamental trend of the economic recovery and long-term positive outlook has not changed, and it is necessary to strengthen confidence and morale.
5. Development v.s. Security: Greater emphasis on the relationship between development and security.
必须坚持高质量发展和高水平安全良性互动，以高质量发展促进高水平安全，以高水平安全保障高质量发展，发展和安全要动态平衡、相得益彰。
We must adhere to the benign interaction of high-quality development and high-level security, promote high-quality development to achieve high-level security, and ensure high-quality development with high-level security, balancing development and security dynamically and benefiting each other.
6. A Chinese path to Modernization: President Xi has not only mentioned 中国式现代化 the Chinese path to modernization in internal meetings but also in dialogues with world leaders, such as during the November summit in San Francisco with U.S. President Biden. As the conference emphasized, this represents China's most significant political pursuit.
必须把推进中国式现代化作为最大的政治
We must promote the Chinese path to modernization as the greatest political task
7. Economic work as the central task: Last year's readout did not mention the phrase "economic work as the central task," but Chinese leaders have mentioned it on other occasions. However, seeing it in this year's readout may reinforce the message for many people about the firm commitment to economic development.
在党的统一领导下，团结最广大人民，聚焦经济建设这一中心工作和高质量发展这一首要任务，把中国式现代化宏伟蓝图一步步变成美好现实。
...unite the broadest people under the Party's unified leadership, focus on the central task of economic work and the primary task of high-quality development, and step by step turn the grand blueprint of Chinese modernization into a beautiful reality.
8. Macroeconomic data v.s. Micro-level perceptions: Greater emphasis on the relationship between macroeconomic data and micro-level perceptions. This reflects unstable expectations and a lack of confidence among micro entities, potentially dragging down the steady and continuous recovery of the economy. For instance, the lack of confidence among micro entities can weaken the effects of macroeconomic policies, leading to traps such as "tax reduction and fee reduction traps" and "liquidity traps." In recent years, China has continuously implemented proactive fiscal policies and prudent monetary policies, but the effectiveness of these policies is diminishing marginally, to some extent resulting in policy spinning and inefficiency. Also, insufficient confidence and expectations can amplify economic contraction and downward pressures, leading to a self-fulfilling prophecy. The lack of confidence and expectations can create a cycle of "expected economic downturn - behavior contraction - economic performance downturn." In addition, insufficient confidence and expectations could, to a certain extent, affect the credibility of the government, which must be given high priority.
要全面贯彻明年经济工作的总体要求，注意把握和处理好速度与质量、宏观数据与微观感受、发展经济与改善民生、发展与安全的关系...
The meeting laid out the overall requirements for economic work in the coming year, emphasizing the balance between speed and quality, macro and micro perspectives, economic development and people's well-being, and development and security.
9. A new round of fiscal and tax system reform: Planning a new round of fiscal and taxation system reforms is an important task for the next stage, which is fundamental to solving the current issues of tight fiscal operations and continuous growth in local government debt. As the 分税制改革 tax-sharing reform is approaching its 30th year, it is necessary to further carry the reform through to the end. Although the 20th Party's Third Plenum has not yet convened, this statement reminds me of the significant extensive reform plan issued at the third plenary session of the 18th CPC Central Committee in 2013.
要谋划新一轮财税体制改革，落实金融体制改革。
Plan a new round of fiscal and tax system reform and implement financial system reform.
10. Consumption: What is the consumption with potentials the conference readout refers to? And what is the consumption without potentials? I believe that a recent series "China City" published by a data-drive newsletter Baiguan featuring the economic landscape of China's various cities, from 4th-tier, average, "nothing-special" city, to one of China's richest towns and its "Utopia City," offers a glimpse of some consumption with potentials.
二是着力扩大国内需求。要激发有潜能的消费，扩大有效益的投资，形成消费和投资相互促进的良性循环。
Second, expanding domestic demand. Efforts should be made to stimulate consumption with potentials and expand productive investment to create a virtuous cycle of mutual promotion between consumption and investment
And some useful links & documents:
1) Full-text readout of the Central Economic Work Conference 2023 [CN]
2) Full-text readout of the Central Economic Work Conference 2022 [CN] [In case some of you might want to compare them)
English version of the 2022 conference by Wang Zichen
3) CPC leadership holds meeting on 2024 economic work, anti-corruption work, Party discipline [CN]
[Note: the political bureau meeting on Dec. 8 sets the tone for the central economic work conference of 2023]
Official English full-text readout of the political bureau meeting
Full translation of the readout by Ginger River Review (GRR)
The Central Economic Work Conference was held in Beijing from December 11 to 12. Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, Chinese president, 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, were present at the meeting.
In his important speech, Xi Jinping comprehensively summarized the economic work of 2023, profoundly analyzed the current economic situation, and systematically arranged the economic work for 2024. Li Qiang made a concluding speech, putting forward requirements for implementing the spirit of General Secretary Xi Jinping's important speech and doing a good job in next year's economic work.
Xi Jinping delivered an important speech at the conference. [Photo: Xinhua]
This year marks the first year to fully implement the guiding principles of the 20th CPC National Congress and is a year for economic recovery following three years of COVID-19 prevention and control, according to the meeting. Under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, the entire Party and people of all ethnic groups in the country have withstood external pressures, overcome internal difficulties, comprehensively deepened reform and opening up, intensified macro-control, focused on expanding domestic demand, optimizing structure, boosting confidence, and preventing and defusing risks. China's economy has achieved a recovery, with solid progress made in high-quality development in 2023. Significant progress has been made in building a modern industrial system, new breakthroughs in scientific and technological innovation, deeper reform and opening up, and a solid foundation for security development. The well-being of the people has been effectively guaranteed, and solid steps have been taken in building a modern socialist country comprehensively.
The meeting pointed out that to further revive the economy, China still has to overcome some difficulties and challenges, including lack of effective demand, overcapacity in some sectors, lackluster social expectations, certain risks and hidden problems, bottlenecks in the domestic circulation, as well as rising complexity, severity and uncertainty of the external environment. It is important to be more mindful of potential dangers and to effectively respond to and solve these problems. Overall, favorable conditions outweigh unfavorable factors in China's development, and the fundamental trend of the economic recovery and long-term positive outlook has not changed, and it is necessary to strengthen confidence and morale.
In recent years, under the strong leadership of the CPC Central Committee, we have effectively coordinated the two overall situations of domestic and international affairs, coordinated the prevention and control of the epidemic and economic and social development, and coordinated development and security, deepening our regular understanding of doing economic work well in the new era.
We must adhere to high-quality development as the hard truth of the new era, implement the new development concept completely, accurately, and comprehensively, and promote the economy to achieve effective quality improvement and reasonable quantitative growth. We must persist in deepening supply-side structural reform and focusing on expanding effective demand, leveraging the advantages of a super-large market and strong production capacity, basing the domestic large cycle on domestic demand, and improving the quality and level of the international cycle. We must rely on reform and opening up to enhance the endogenous driving force for development, coordinate the promotion of deep-level reforms and high-level opening up, constantly liberate and develop social productive forces, and stimulate and enhance social vitality. We must adhere to the benign interaction of high-quality development and high-level security, promote high-quality development to achieve high-level security, and ensure high-quality development with high-level security, balancing development and security dynamically and benefiting each other. We must promote the Chinese path to modernization as the greatest political task, unite the broadest people under the Party's unified leadership, focus on the central task of economic work and the primary task of high-quality development, and step by step turn the grand blueprint of Chinese modernization into a beautiful reality.
It was emphasized at the meeting that to do a good job in the economic work next year, it is necessary to follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the guiding principles of the 20th CPC National Congress and the Second Plenary Session of the 20th CPC Central Committee, adhere to the general principle of seeking progress while maintaining stability, and faithfully implement the new development philosophy on all fronts. It is also essential to accelerate the forging of a new development paradigm, focus on promoting high-quality development, comprehensively deepen reform and opening up, and build self-reliance and strength in high-level science and technology. It is imperative to intensify macro regulation, do a good job both in expanding domestic demand and deepening supply-side structural reform, ensure both new urbanization and rural revitalization across the board, and secure both high-quality development and high-level security. It is important to boost economic vitality, prevent and mitigate risks, improve social expectations, consolidate and promote the momentum of economic recovery, and effectively improve the quality of our economy and promote its growth within a reasonable range. It is important to improve people's well-being, maintain social stability, and make further progress in building China into a strong country and realizing the rejuvenation of the Chinese nation through a Chinese path to modernization.
It was pointed out at the meeting that next year, we must adhere to the principle of seeking progress while maintaining stability, promoting stability through progress, and establishing the new before abolishing the old. It urged the introduction of more policies that will help stabilize expectations, growth and employment, as well as active endeavors to promote the transition of growth models, structural adjustment, and quality and efficiency improvement, so as to consolidate the foundation of stable economic development with positive outlook. The country should strengthen counter-cyclical and cross-cyclical adjustments of macro policies and continue to implement a proactive fiscal policy and a prudent monetary policy with strengthened innovation and coordination of policy tools.
Proactive fiscal policy should be moderately intensified, with a focus on improving quality and efficiency. It is essential to make good use of fiscal policy space, enhancing the effectiveness of funds and policy outcomes. Optimizing the structure of fiscal expenditure, strengthening the financial support for major national strategic tasks, and reasonably expanding the range of special local government bonds as capital are key. Implementing structural tax cuts and fee reductions with a focus on supporting technological innovation and the development of the manufacturing industry is crucial. Strict supervision of transfer payment funds and serious fiscal discipline are required. Enhancing fiscal sustainability and safeguarding the baseline of "Three Guarantees" at the grassroots level, while strictly controlling general expenditures, is necessary. Party and government agencies should adapt to tighter budgetary constraints.
Prudent monetary policy should be flexible, moderate, and precisely effective. Maintaining reasonably ample liquidity, ensuring that the scale of social financing and the volume of money supply match the expected targets of economic growth and price levels, is important. Effective utilization of monetary policy tools in both aggregate and structural terms to revitalize existing funds and improve efficiency is needed. Financial institutions should be guided to increase support for technological innovation, green transformation, inclusive small and micro businesses, and the digital economy. Promoting a stable and declining overall cost of social financing and maintaining the basic stability of the RMB exchange rate at a reasonable and balanced level is vital.
It is important to enhance the consistency of macroeconomic policy directions. Strengthening the coordination of fiscal, monetary, employment, industrial, regional, technological, and environmental policies, and incorporating non-economic policies into the assessment of macroeconomic policy consistency are essential. Strengthening policy coordination to ensure concerted efforts and synergy, and enhancing economic publicity and public opinion guidance to promote a positive narrative of China's economy are also key directives.
The meeting called for focusing on promoting high-quality development next year, highlighting key points, grasping key issues, and doing a solid job in economic work.
First, lead the modernization of the industrial system with scientific and technological innovation. We should leverage scientific and technological innovation to drive industrial innovation, especially using disruptive and frontier technologies to create new industries, new models, and new momentum, developing qualitatively new productivity. Improve the new system for mobilizing resources nationwide, implement high-quality development actions for key industrial chains in the manufacturing industry, strengthen quality support and standard leadership, and enhance the resilience and security level of industrial chains and supply chains. Vigorously promote new industrialization, develop the digital economy, and accelerate the development of artificial intelligence. Build several strategic emerging industries such as bio-manufacturing, commercial aerospace, and low-altitude economy, open up new tracks for future industries such as quantum and life sciences, widely apply intelligent and green technologies, and accelerate the transformation and upgrading of traditional industries. Strengthen applied basic research and frontier research, and enhance the main position of enterprises in scientific and technological innovation. Encourage the development of venture capital and equity investment.
Second, expanding domestic demand. Efforts should be made to stimulate consumption with potentials and expand productive investment to create a virtuous cycle of mutual promotion between consumption and investment. Promote consumption from post-pandemic recovery to continuous expansion, cultivate and strengthen new types of consumption, vigorously develop digital consumption, green consumption, and healthy consumption, and actively cultivate new growth areas for consumption such as intelligent home appliances, entertainment tourism, sports events, and trendy domestic products. Stabilize and expand traditional consumption, boost large-scale consumption such as new energy vehicles and electronic products. Increase the income of urban and rural residents, expand the scale of the middle-income group, and optimize the consumption environment. Driven by improving technical, energy consumption, and emission standards, promote large-scale equipment updates and the replacement of old goods. Give full play to the amplifying effect of government investment, focus on supporting key and core technology breakthroughs, new types of infrastructure, energy-saving and carbon reduction, and cultivate and develop new momentum. Improve investment and financing mechanisms, implement new mechanisms for government and social capital cooperation, and support social capital participation in the construction of new types of infrastructure and other fields.
Third, deepen reforms in key areas. Plan further comprehensive deepening reform measures to continuously inject strong momentum into promoting high-quality development and accelerating Chinese modernization. Continuously consolidate and develop the public sector and to encourage, support and guide development of the non-public sector, fully stimulate the internal drivers and innovative vitality of various business entities. Deepen the efforts to deepen and upgrade state-owned enterprise reform, enhance core functions, and improve core competitiveness. Promote the development of private enterprises, and implement a number of measures in market access, factor acquisition, fair law enforcement, and rights protection. Promote the development of the enterprises that use special and sophisticated technologies to produce novel and unique products. Accelerate the development of a unified national market, focus on breaking various forms of local protection and market segmentation. Effectively reduce the overall logistics cost of society. Plan a new round of fiscal and tax system reform and implement financial system reform.
Fourth, expand high-level opening up. Accelerate the cultivation of new momentum for foreign trade, stabilizing the overall performance of foreign trade and foreign investment, and expand trade in intermediate products, service trade, digital trade, and cross-border e-commerce exports. Relax market access in telecommunications, medical and other service industries, benchmark against international high-standard economic and trade rules, earnestly solve problems such as data cross-border flow and equal participation in government procurement, continuously build a market-oriented, law-based, and internationalized first-class business environment, and create the "Invest in China" brand. Effectively clear the bottlenecks for foreign personnel to come to China for business, study, and tourism. Advance the implementation of the eight actions to support the high-quality co-construction of the "Belt and Road Initiative", coordinate and promote major landmark projects and "small yet smart" people-centered projects.
Fifth, prevent and defuse risks in key sectors continuously and effectively. We need to coordinate the resolution of risks in real estate, local debt, and small and medium-sized financial institutions, and call for a crackdown on illegal financial activities to firmly guard against systemic risks. The meeting advocated for a proactive and prudent resolution of real estate risks, treating different ownership types of real estate enterprises equally in satisfying their reasonable financing needs, and promoting the stable and healthy development of the real estate market. It urged acceleration in the construction of affordable housing, "dual-use" public infrastructure, and the transformation of urban villages as part of the "three major projects." The meeting called for the improvement of related fundamental systems and the rapid development of new models for real estate development. It emphasized the importance of coordinating the resolution of local debt risks with stable development, encouraging economically significant provinces to play a real leading role in stabilizing the national economy.
Sixth, the meeting highlighted the unwavering focus on agricultural, rural areas, and farmers' issues. It set the goal of building a strong agricultural nation, learning from the "Ten Million Projects" experience, and effectively promoting the comprehensive revitalization of rural areas. This would ensure national food security, prevent large-scale poverty, and improve the levels of rural industrial development, construction, and governance. The meeting emphasized the need for dual drivers of science and technology and reform, strengthening measures to increase farmers' incomes, focusing on tangible projects that resonate with the people, and building liveable and prosperous rural communities. The meeting called for a steadfast supply of vital agricultural products like grain, exploring inter-provincial compensation mechanisms for grain production and sales, reforming the land occupation-compensation balance system, and raising standards for high-quality farmland construction. It advocated for an all-encompassing approach to agriculture and food, transforming agriculture into a modern, large-scale industry.
Seventh, promote the integrated development of urban and rural areas and coordinate regional development. It aimed to organically combine the advancement of new urbanization and the comprehensive revitalization of rural areas, encouraging the bidirectional flow of various elements and focusing on county towns as key carriers of new urbanization to form a new pattern of integrated urban-rural development. The meeting called for urban renewal actions to create liveable, resilient, and smart cities. It emphasized leveraging the comparative advantages of different regions, aligning with their primary functions, actively integrating into and serving the new development pattern, optimizing the layout of major productive forces, and enhancing the construction of national strategic hinterlands. The meeting stressed the importance of developing the maritime economy and building a strong maritime nation.
Eighth, deepen the development of ecological civilization and green, low-carbon growth. It aimed to establish pilot zones for "beautiful China" and highlands for green and low-carbon development. The meeting called for an active and prudent approach to peak carbon emissions and carbon neutrality, accelerating the creation of green and low-carbon supply chains. It emphasized the ongoing efforts to fight for blue skies, clear waters, and clean soil, improve the mechanism for realizing the value of ecological products, implement reforms in collective forest rights, and accelerate the construction of a new energy system, enhancing the efficient and circular use of resources and improving the security of energy and resource supplies.
Ninth, ensure and improve people's livelihoods. It advocated for efforts within capabilities, firmly securing the baseline of people's livelihoods. The meeting stressed prioritizing employment, ensuring stability for key groups, weaving a tight social security net, and improving a layered and categorized social assistance system. It called for accelerating the perfection of a birth support policy system, developing the gray economy, and promoting high-quality population development.
The meeting underscored the need for a deep understanding of the Party Central Committee's scientific judgment on the economic situation and a heightened sense of responsibility and mission in economic work. It encouraged seizing all favorable opportunities and conditions, acting promptly and doing more wherever possible, to counter the uncertainties of the situation with the certainty of their work. The meeting laid out the overall requirements for economic work in the coming year, emphasizing the balance between speed and quality, macro and micro perspectives, economic development and people's well-being, and development and security. It called for accurate grasping of policy directions for economic work next year, strengthening policy synergy and maximizing combined effects, making advance preparations and leaving room in policy reserves, and focusing on effectiveness and enhancing people's sense of gain in policy evaluation, aiming to improve the effectiveness of macro policies in supporting high-quality development.
The meeting highlighted the importance of methods in advancing work, focusing on main contradictions, breaking through bottlenecks, planning ahead, and ensuring the implementation of key tasks for the next year's economic work. It called for maintaining an enterprising spirit, remaining mindful of the country’s most fundamental interests, taking the initiative, strengthening collaboration, actively planning and using effective work levers, and solidly promoting high-quality development.
The conference emphasized the necessity to uphold and strengthen the comprehensive leadership of the Party, thoroughly implement and execute the Party Central Committee's decisions and plans regarding economic work. It was underscored that these implementations must be carried out rigorously and unswervingly, ensuring that the final outcomes align with the intentions of the Party Central Committee's decisions. The conference called for swift and efficient execution, with an overall coordination of timing, degree, and effectiveness.
There was a strong emphasis on practical and earnest implementation, with a firm resolution to correct formalism and bureaucratism. The conference urged the need for courage and integrity in implementation, adhering to the correct principles of personnel management, and fully leveraging the initiative, proactivity, and creativity of leaders at all levels. It also highlighted the importance of consolidating and expanding the achievements of thematic education, transforming these into effective measures for promoting high-quality development.
The conference called for ensuring the supply and price stability of essential livelihood commodities at the end of the year and the beginning of the new year, guaranteeing the timely and full payment of wages to migrant workers, caring for the production and life of people in difficulty, thoroughly implementing the responsibility system for production safety, and safeguarding the life, property, and health of the people.
The meeting called on the entire Party to unite closely around the Party Central Committee with Comrade Xi Jinping at its core, to remain confident and forge ahead, striving to achieve the goals and tasks of economic and social development. It emphasized taking practical actions and achieving results in high-quality development, making new and greater contributions to comprehensively advancing China's modernization, building a strong country, and rejuvenating the nation.
Members of the Political Bureau of the CPC Central Committee, secretaries of the Central Secretariat, leading comrades of the Standing Committee of the National People's Congress, State Councilors, the President of the Supreme People's Court, the Procurator-General of the Supreme People's Procuratorate, leading comrades of the National Committee of the Chinese People's Political Consultative Conference, and members of the Central Military Commission attended the meeting.
Leading comrades in charge of the Party and government from provinces, autonomous regions, municipalities directly under the Central Government, cities specifically designated in the state plan, and the Xinjiang Production and Construction Corps, as well as relevant central and state organs, relevant people's organizations, some financial institutions and enterprises managed by the central government, and leading comrades in charge of various departments of the Central Military Commission also participated in the meeting.