The Political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and economic work
The meeting emphasized the need to increase the countercyclical adjustment of fiscal and monetary policies, ensure necessary fiscal expenditures, and effectively carry out grassroots "three guarantees" work. It is necessary to issue and utilize ultra-long-term special national bonds and local government special bonds, to better leverage the role of government investment in driving growth. Additionally, it is important to reduce the reserve requirement ratio and implement substantial interest rate cuts
On September 26, the Political Bureau of the CPC Central Committee held a meeting in Beijing to analyze and study the current economic situation and deploy the next economic work. General Secretary of the CPC Central Committee Xi Jinping presided over the meeting.
The meeting believes that since the beginning of this year, the Party Central Committee with Comrade Xi Jinping at its core has united and led the people of all ethnic groups in the country to overcome difficulties, respond calmly, increase macro-control efforts, focus on deepening reform and opening up, expanding domestic demand, optimizing economic structure, maintaining overall stability in economic operation, making steady progress, steadily developing new productive forces, ensuring solid and effective people's livelihood security, making positive progress in preventing and resolving risks in key areas, promoting high-quality development solidly, and maintaining overall social stability.
The meeting pointed out that the basic fundamentals of China's economy, the broad market, strong economic resilience, and great potential have not changed. At the same time, some new situations and problems have emerged in the current economic operation. It is necessary to comprehensively, objectively, and calmly view the current economic situation, face difficulties, strengthen confidence, effectively enhance the sense of responsibility and urgency in doing economic work. It is necessary to focus on key points, take proactive actions, effectively implement existing policies, intensify the introduction of new policies, further enhance the pertinence and effectiveness of policy measures, and strive to accomplish the annual economic and social development goals.
The meeting emphasized the need to increase the countercyclical adjustment of fiscal and monetary policies, ensure necessary fiscal expenditures, and effectively carry out grassroots "three guarantees" work. It is necessary to issue and use ultra-long-term special national bonds and local government special bonds well, better play the role of government investment driving. It is necessary to reduce the reserve requirement ratio, implement effective interest rate cuts. It is necessary to promote the stabilization of the real estate market, strictly control the increase of new commercial housing, optimize the existing stock, improve quality, increase the lending efforts for "white-listed" projects, and support the revitalization of idle land. It is necessary to respond to public concerns, adjust housing purchase restrictions, lower interest rates on existing housing loans, urgently improve land, fiscal, and financial policies, and promote the establishment of a new model for real estate development. Efforts should be made to boost the capital market, vigorously guide the entry of medium and long-term funds into the market, remove obstacles for social security, insurance, wealth management, and other funds to enter the market. Support should be provided for the merger and reorganization of listed companies, steadily promote the reform of public funds, and study and introduce policy measures to protect small and medium investors.
The meeting emphasized the need to help enterprises overcome difficulties, further regulate law enforcement and supervision related to enterprises. It is necessary to introduce a law to promote the development of the private economy and create a good environment for the development of the non-public sector economy. Consumption promotion and benefiting the people should be combined to increase income for middle and low-income groups, improve consumption structure. New consumption formats should be nurtured. Support and regulate the development of social forces in the elderly care and childcare industries, urgently improve the policy system for supporting childbirth. Efforts should be made to attract stable investment, accelerate the implementation of reform measures in the manufacturing sector for foreign investment access, further optimize a first-class market-oriented, rule-of-law, internationalized business environment.
The meeting stressed the need to firmly secure the bottom line of people's livelihood, focus on doing a good job in employment for key groups such as recent college graduates, migrant workers, poverty alleviation population, zero-employment families, strengthen assistance to difficult groups such as the elderly, disabled, and long-term unemployed. Assistance should be strengthened for low-income populations. Efforts should be made to ensure the supply and stable prices of important commodities such as food, water, electricity, and heating. Efforts should be made to effectively promote grain and agricultural production, increase farmers' income, focus on autumn and winter production, and ensure national food securityThe meeting required that all regions and departments should conscientiously implement the decisions and deployments of the Party Central Committee, take action, unite as one, fully stimulate the enthusiasm, initiative, and creativity of the whole society to promote high-quality development, and drive the economy to continue to recover and improve. Party members and cadres should bravely shoulder responsibilities, dare to innovate, enhance their capabilities, and achieve results in overcoming difficulties. It is necessary to set a good example in selecting and appointing personnel, earnestly implement the principle of "distinguishing among different types of people," and support those who take responsibility and support those who work hard. It is important to support economically strong provinces in taking on major responsibilities and better play their role in driving and supporting development.
The meeting also discussed other matters.
Source: Xinhua News Agency