The Political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and economic work.

On April 28th, the Political Bureau of the Communist Party of China Central Committee held a meeting to analyze and study the current economic situation and economic work. General Secretary Xi Jinping presided over the meeting.

The meeting believed that since this year, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at the core, all regions and departments have better coordinated the domestic and international situations, epidemic prevention and control, and economic and social development, as well as development and security. China has achieved a major decisive victory in epidemic prevention and control, and the economic and social operation has fully resumed normalcy. Macro policies have taken the lead in coordinated efforts, and the triple pressures of shrinking demand, supply shock, and weakening expectations have been alleviated. Economic growth is better than expected, market demand is gradually recovering, and economic development is showing a trend of recovery and improvement, achieving a good start in economic operation.

The meeting pointed out that the current improvement in China's economic operation is mainly restorative, and the endogenous power is not yet strong, and demand is still insufficient. Economic transformation and upgrading face new obstacles, and promoting high-quality development still needs to overcome many difficulties and challenges.

The meeting emphasized that it is necessary to carry out in-depth study and implementation of Xi Jinping's socialist ideology with Chinese characteristics in the new era, conscientiously implement the spirit of the Central Economic Work Conference, adhere to the general tone of seeking progress while maintaining stability, fully, accurately, and comprehensively implement the new development concept, accelerate the construction of a new development pattern, comprehensively deepen reform and opening up, combine the effectiveness of policies with the vitality of market entities, form a strong driving force to promote high-quality development, and coordinate the continuous improvement of economic operation, the continuous enhancement of endogenous power, the continuous improvement of social expectations, and the continuous resolution of risks and hidden dangers. Seize the opportunity and promote the qualitative and effective improvement of the economy.

The meeting pointed out that it is necessary to accelerate the construction of a modern industrial system supported by the real economy, not only to break through in areas of weakness, but also to expand and strengthen in areas of advantage. It is necessary to consolidate the foundation of independent and self-reliant science and technology and cultivate and expand new momentum. It is necessary to consolidate and expand the development advantages of new energy vehicles, accelerate the construction of charging piles, energy storage and other facilities, and transform supporting power grids. Attention should be paid to the development of general artificial intelligence, the creation of an innovative ecology, and the prevention of risks.

The meeting emphasized that restoring and expanding demand is the key to the sustained and upward trend of the current economy. Active fiscal policies should be strengthened and effective, and prudent monetary policies should be precise and powerful to form a joint force to expand demand. It is necessary to increase the income of urban and rural residents through multiple channels, improve the consumption environment, and promote cultural tourism and other service consumption. It is necessary to give full play to the guiding role of government investment and policy incentives, and effectively stimulate private investment.

The meeting pointed out that it is necessary to adhere to the "two unshakable" principles, remove legal and regulatory barriers and hidden obstacles that affect the fair competition and common development of various types of ownership enterprises, continue to boost the confidence of market entities, and help enterprises recover. All types of enterprises must operate in compliance with laws and regulations. We must be determined to fundamentally solve the problem of enterprise accounts receivable. It is necessary to promote the standardized and healthy development of platform enterprises and encourage leading platform enterprises to explore innovation.

The meeting emphasized the need to comprehensively deepen reform and expand high-level opening up. We must conscientiously implement the plan for the reform of Party and state institutions and promote the modernization of the national governance system and governance capacity. We must put attracting foreign investment in a more important position and stabilize the basic foreign trade and foreign investment. We must support free trade pilot zones and free trade ports that have conditions to dock with international high-standard economic and trade rules and carry out reform and opening up trials ahead of time. The meeting pointed out that it is necessary to effectively prevent and resolve risks in key areas, coordinate the reform and risk mitigation work of small and medium-sized banks, insurance and trust institutions. We must adhere to the positioning that houses are for living, not for speculation, and implement policies according to local conditions, support rigid and improvement-oriented housing demand, and do a good job in ensuring the delivery of houses, protecting people's livelihoods, and maintaining stability, promote the stable and healthy development of the real estate market, and promote the establishment of a new model for the development of the real estate industry. In super-large and mega-cities, we will actively and steadily promote the transformation of urban villages and the construction of "dual-use for peace and emergency" public infrastructure. We will plan and build affordable housing. We must strengthen the management of local government debt and strictly control the increase of hidden debt. We must continue to do a good job in the prevention and control of the COVID-19 epidemic.

The meeting emphasized that we must effectively guarantee and improve people's livelihoods, strengthen the priority of employment, expand employment channels for college graduates, stabilize the employment of key groups such as migrant workers. We must continue to take responsibility for safety production with a sense of "never let our guard down". We must ensure the supply of electricity during peak summer demand. We must consolidate and expand the achievements of poverty alleviation, do a good job in food production and supply of important agricultural products, and comprehensively promote rural revitalization. We must strengthen the governance of the ecological environment system. Leaders at all levels should take the lead in conducting investigations and research, go straight to the problems, and effectively help enterprises and grassroots solve difficulties.