In a significant meeting, General Secretary of the CPC Central Committee and Chairman of the Central Military Commission Xi Jinping, along with Premier Wen Jiabao of the State Council, Li Keqiang, Zhang Dejiang, Yu Zhengsheng, Liu Yunshan, Wang Qishan, and Zhang Gaoli—members of the Standing Committee of the Political Bureau of the CPC Central Committee—attended and participated. During the session, Xi Jinping delivered an important speech, analyzing both the international and domestic economic situations and outlining the overall requirements and key tasks for next year's economic work. Premier Wen Jiabao summarized this year's economic achievements and outlined plans for the upcoming year. Li Keqiang chaired the meeting and concluded it with a final speech.
The meeting emphasized that, despite the increasingly severe global economic environment and the challenging domestic reform and development tasks, the Party Central Committee and the State Council have led the entire nation in advancing scientific development and accelerating the transformation of the economic model. By maintaining a steady and progressive approach, macroeconomic regulation has been strengthened, and growth has been prioritized. As a result, the economy has shown a stable and positive trend, with generally stable operations, declining price increases, a more secure agricultural foundation, and an overall stable social situation.
Significant progress has been made in transforming the development model, achieving new results in technological innovation, making breakthroughs in reform and opening up, and improving people’s livelihoods. The meeting noted that China remains at a higher starting point, with long-term favorable conditions for economic and social development. The country has strong domestic market potential, a solid productivity base, enhanced innovation capabilities, abundant human resources, and clear advantages in production factors. However, challenges remain, including unbalanced development, unsustainable growth, rising enterprise costs, weak innovation capacity, financial risks, and environmental pressures.
Looking ahead, the international economic landscape is expected to remain complex, with slow global growth, rising protectionism, and increased inflationary and asset bubble risks. Despite these challenges, the meeting reaffirmed that China's strategic opportunities remain intact, though their nature and conditions have evolved. These new opportunities lie in expanding domestic demand, enhancing innovation, and promoting structural transformation.
Next year marks the first year of implementing the spirit of the 18th National Congress of the Communist Party of China. It is a critical year for the 12th Five-Year Plan and for laying the foundation for a moderately prosperous society. Economic work must focus on improving growth quality, adhering to the principle of steady progress, deepening reforms, and strengthening innovation. Efforts will also be made to expand domestic demand, adjust the economic structure, safeguard people's livelihood, and ensure stable prices and sustainable development.
The meeting outlined several key tasks for next year: strengthening macroeconomic regulation, consolidating agriculture, adjusting industrial structures, promoting urbanization, and improving people's livelihoods. Each task was detailed with specific strategies and actions to ensure continued stability and growth. Ultimately, the meeting stressed the importance of balancing short-term goals with long-term development, ensuring that China continues to move forward in a sustainable and inclusive manner.
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