Photo: Xinhua
Photo: Xinhua
BEIJING, Dec. 18 (Xinhua) -- The annual Central Economic Work Conference was held in Beijing from Wednesday to Friday, as Chinese leaders charted course for the economy in 2021.
In a speech at the conference, Xi Jinping, general secretary of the Communist Party of China Central Committee, Chinese president and chairman of the Central Military Commission, reviewed the country's economic work in 2020, analyzed the current situation and arranged the economic work for next year.
China to build more independent, controllable industrial, supply chains
China will make efforts to build more independent and controllable industrial and supply chains.
The security and stability of industrial and supply chains is the foundation of forming a new development paradigm.
Efforts should be made to achieve breakthroughs in key and core technologies, break bottlenecks at the earliest time possible and obtain more exclusive technical advantages.
The country should work to consolidate industrial foundations by improving the manufacturing of basic parts, fundamental techniques and essential materials.
China to further expand consumption, promote employment
China will promote employment, improve its social security system, optimize income distribution structure and expand the middle-income group as part of efforts to expand domestic consumption.
The country will lift some administrative restrictions on purchases in an orderly manner and tap into the consumption potential of counties and townships.
China to formulate action plan for peaking carbon dioxide emissions before 2030
China will seize time to formulate an action plan for peaking carbon dioxide emissions before 2030.
The country will support areas with favorable conditions to peak the emissions ahead of schedule.
China has previously announced that it will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.
The country will accelerate the adjustment and optimization of industrial and energy structure, take action to see that coal consumption reach its peak as soon as possible, and vigorously develop new energy.
Efforts should be made to speed up the establishment of national markets for carbon emission and energy use permit trading.
China will continue to fight the tough battle against pollution, create synergy between pollution prevention and carbon dioxide emission reduction, as well as carry out large-scale afforestation.
China to keep macro policies consistent in 2021
China will keep its macro policies consistent, stable and sustainable in 2021.
The country will continue to implement proactive fiscal policy and prudent monetary policy, amid efforts to maintain necessary support for economic recovery.
In 2021, China will adopt a fiscal policy that offers stronger financial guarantees to major national strategies as well as promotes science and technology innovations, accelerates economic structural adjustment, and adjusts income distribution in a proactive manner.
In the meantime, solid efforts should be made to resolve hidden debts of local governments.
China will implement a monetary policy that is flexible, precise, reasonable and moderate, according to the meeting, which stressed that money supply and aggregate social financing should grow at basically the same level with the country's nominal economic growth.
Banks' capital should be replenished through multiple channels, and efforts should be made to improve the legal system in the bond market.
The meeting also urged stronger financial support for science and technology innovations, the small and micro firms, and green development.
China will deepen the market-oriented reform of interest rates and exchange rates, and keep the yuan's exchange rate generally stable on a reasonable and balanced level.
China to greatly develop digital economy, increase new infrastructure investment
China will enhance its efforts to develop the digital economy and increase investments in new infrastructure.
Efforts should be made to strengthen the sustainability of investment growth and allow it to continue to play a key role.
China to strengthen national strategic technologies
China will strengthen its national strategic technologies with efforts including giving full play to the state's role in organizing major science and technology innovations.
The country will step up efforts to resolve major difficulties that constrain national development and security.
The meeting stressed giving full play to the institutional advantages of a new-type of system that pools national resources as well as the role of key academies, institutions and colleges which act as national teams. It also called for more efforts to optimize the allocation of scientific research strength and the sharing of resources.
The meeting urged efforts to step up the formulation and implementation a 10-year action plan to boost basic research, and concentrated efforts in the layout of a number of basic discipline research centers.
It also pledged support for eligible local areas in building international and regional science and technology innovation centers.
The meeting stressed giving full play to the principal role of enterprises in science and technology innovation, and pledged support for leading firms in establishing innovation consortiums to drive innovation activities of small and medium-sized firms.
China pledges reforms, opening-up in all-round way
China will promote reforms and opening-up in an all-round way.
To build a new development paradigm, the country must establish a high-level socialist market economic system, pursue a high-level opening-up, and make reforms and opening-up reinforce each other.
More efforts should be made to improve macroeconomic governance, and strengthen the coordination of international macro policies.
The conference called for efforts to stimulate the vitality of market entities, ease market access, promote fair competition, protect intellectual property rights, build a unified market and create a market-oriented, law-based, and internationalized business environment.
The conference also urged efforts to promote the healthy development of the capital market, and improve the quality of listed companies.
China will positively consider joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, and attach importance to the application of international norms to safeguard national security.
China to toughen supervision over monopoly, unfair competition
Efforts will be made to intensify anti-monopoly supervision and prevent disorderly capital expansion next year.
Anti-trust and anti-unfair competition are the inherent requirements for improving the socialist market economic system and promoting high-quality development.
The country supports platform enterprises to pursue innovative development and enhance international competitiveness, and supports the joint development of the public and non-public sectors.
Laws and regulations concerning the identification of platform monopolies, management of data collection and use and protection of consumers' rights and interests will be optimized.
Financial innovation must be advanced under prudent supervision.
China to keep economy in appropriate range
China will work to ensure that its economy runs in an appropriate range.
The country will appropriately manage the tempo and strength of its macro-control, and implement targeted and effective macro policies.
Efforts should be made to continue spurring the vitality of market entities, especially the micro, small and medium-sized enterprises and individually-owned businesses, through improving the country's policies related to cutting taxes and administrative fees, improving inclusive financial services, and promoting reform and innovation.
China shall rely on innovation to advance the development of its real economy and promote high-quality development of the manufacturing sector.
The potential of the domestic market should be fully tapped, the statement said, calling for the expansion of consumption and effective investment that is oriented toward improving people's livelihoods.
Efforts should be made to comprehensively advance rural vitalization, deepen reforms in key areas to improve business environment, strengthen pollution prevention and control, promote employment and continuously improve people's lives.
China to safeguard food security by addressing seeds, farmlands problems
China will strive to tackle problems related to seeds and farmlands next year as part of its efforts to ensure food security.
The country will strengthen the protection and utilization of germplasm resources and the construction of seed banks.
Efforts will be made for technological advances to break bottlenecks in seed provenance.
The country will also continue to prevent the use of arable land for non-farming purposes, cultivate more high-standard farmlands, enhance water conservancy construction and the protection of black soil, consolidate the supply of grain and important agricultural by-products, and tackle pollution in the agricultural industry.
China to solve prominent housing problems in big cities
China will work to solve prominent housing problems in big cities as one of its key economic tasks for 2021.
Sticking to the principle that "houses are for living in, not for speculation," the country will adopt multiple policies to promote steady and healthy development of the real estate market.
More attention will be given to the construction of government-subsidized rental housing, with policy improvements to ensure the equal rights of tenants and house buyers in enjoying public services, and the market of long-term rental apartments to be further standardized.
More land supply for rental housing is expected while tax and fee burdens for rental housing will be eased.