Xi Jinping Leads CPC Leadership Meeting to Plan Economic Tasks
On Thursday, the Political Bureau of the Communist Party of China (CPC) Central Committee gathered to assess the current economic landscape and outline additional plans for economic initiatives.
TroibNews 
On Thursday, the Political Bureau of the Communist Party of China Central Committee convened to analyze the current economic landscape and formulate further plans for economic initiatives.
The meeting was chaired by Xi Jinping, general secretary of the CPC Central Committee.
It was recognized that the Chinese economy has displayed generally stable performance this year, achieving progress alongside stability. Participants acknowledged that new quality productive forces are developing steadily, while significant strides have been made to protect people's livelihoods. Additionally, there has been positive advancement in mitigating risks in crucial sectors.
The meeting highlighted that the fundamentals of the Chinese economy remain unchanged, bolstered by favorable factors such as a vast market, strong economic resilience, and great potential.
Attendees stressed the importance of adopting a comprehensive, objective, and calm perspective on the current economic situation, urging a direct confrontation with difficulties and maintaining confidence.
Members discussed the need for the country to effectively carry out existing policies, accelerate the implementation of incremental policies, and make policy measures more targeted and efficient, with the goal of achieving the targets and tasks for this year’s economic and social development.
The meeting underscored the necessity of issuing and effectively utilizing ultra-long special treasury bonds and local government special-purpose bonds to enhance the driving role of government investment.
It was deemed essential to lower the reserve requirement ratio and execute impactful interest rate cuts.
To stabilize the property market and reverse its decline, the meeting advocated for adjusting housing purchase restrictions, lowering interest rates on existing mortgage loans, improving land, fiscal, tax, and financial policies, and promoting the establishment of a new model for real estate development.
Furthermore, the meeting called for initiatives to invigorate the capital market by guiding medium- and long-term funds into it and removing barriers for social security, insurance, and wealth management funds to invest.
Support for the mergers, acquisitions, and restructuring of listed firms was also noted, alongside calls to advance the reform of publicly offered funds and develop policy measures to safeguard small and medium-sized investors.
On Tuesday, China's central bank, top securities regulator, and financial regulator announced a series of monetary stimulus, property market support, and capital market enhancement measures aimed at boosting the nation’s high-quality economic growth.
The Thursday meeting emphasized the need to implement a private economy promotion law and cultivate a favorable environment for the development of the non-public sector.
According to the meeting, it is important to enhance the incomes of middle- and low-income groups and refine the consumption structure.
Additionally, the meeting called for supporting and standardizing social forces in the development of elderly care and childcare industries and refining pro-childbirth policies. It urged the advancement and implementation of reform measures related to foreign capital market access in the manufacturing sector and the need to further optimize a market-oriented, law-based, and internationalized business environment.
Prioritizing employment support for key demographics—including recent college graduates, rural migrant workers, individuals lifted out of poverty, and zero-employment households—was also highlighted. Assistance will be increased for those struggling to find jobs, such as older individuals, people with disabilities, and the long-term unemployed, with additional support promised for the low-income population.
Chinese authorities unveiled guidelines on Wednesday aimed at promoting high-quality and sufficient employment through an employment-first strategy. This document encourages the creation of more high-quality jobs by transforming and upgrading traditional industries, supporting the growth of emerging industries, developing future industries, and accelerating the creation of advanced manufacturing clusters.
The significance of agricultural production during autumn and winter for ensuring national grain security was also underscored in Thursday's meeting.
Navid Kalantari contributed to this report for TROIB News
The meeting was chaired by Xi Jinping, general secretary of the CPC Central Committee.
It was recognized that the Chinese economy has displayed generally stable performance this year, achieving progress alongside stability. Participants acknowledged that new quality productive forces are developing steadily, while significant strides have been made to protect people's livelihoods. Additionally, there has been positive advancement in mitigating risks in crucial sectors.
The meeting highlighted that the fundamentals of the Chinese economy remain unchanged, bolstered by favorable factors such as a vast market, strong economic resilience, and great potential.
Attendees stressed the importance of adopting a comprehensive, objective, and calm perspective on the current economic situation, urging a direct confrontation with difficulties and maintaining confidence.
Members discussed the need for the country to effectively carry out existing policies, accelerate the implementation of incremental policies, and make policy measures more targeted and efficient, with the goal of achieving the targets and tasks for this year’s economic and social development.
The meeting underscored the necessity of issuing and effectively utilizing ultra-long special treasury bonds and local government special-purpose bonds to enhance the driving role of government investment.
It was deemed essential to lower the reserve requirement ratio and execute impactful interest rate cuts.
To stabilize the property market and reverse its decline, the meeting advocated for adjusting housing purchase restrictions, lowering interest rates on existing mortgage loans, improving land, fiscal, tax, and financial policies, and promoting the establishment of a new model for real estate development.
Furthermore, the meeting called for initiatives to invigorate the capital market by guiding medium- and long-term funds into it and removing barriers for social security, insurance, and wealth management funds to invest.
Support for the mergers, acquisitions, and restructuring of listed firms was also noted, alongside calls to advance the reform of publicly offered funds and develop policy measures to safeguard small and medium-sized investors.
On Tuesday, China's central bank, top securities regulator, and financial regulator announced a series of monetary stimulus, property market support, and capital market enhancement measures aimed at boosting the nation’s high-quality economic growth.
The Thursday meeting emphasized the need to implement a private economy promotion law and cultivate a favorable environment for the development of the non-public sector.
According to the meeting, it is important to enhance the incomes of middle- and low-income groups and refine the consumption structure.
Additionally, the meeting called for supporting and standardizing social forces in the development of elderly care and childcare industries and refining pro-childbirth policies. It urged the advancement and implementation of reform measures related to foreign capital market access in the manufacturing sector and the need to further optimize a market-oriented, law-based, and internationalized business environment.
Prioritizing employment support for key demographics—including recent college graduates, rural migrant workers, individuals lifted out of poverty, and zero-employment households—was also highlighted. Assistance will be increased for those struggling to find jobs, such as older individuals, people with disabilities, and the long-term unemployed, with additional support promised for the low-income population.
Chinese authorities unveiled guidelines on Wednesday aimed at promoting high-quality and sufficient employment through an employment-first strategy. This document encourages the creation of more high-quality jobs by transforming and upgrading traditional industries, supporting the growth of emerging industries, developing future industries, and accelerating the creation of advanced manufacturing clusters.
The significance of agricultural production during autumn and winter for ensuring national grain security was also underscored in Thursday's meeting.
Navid Kalantari contributed to this report for TROIB News
