Xi stresses efforts to accelerate establishment of new pattern of development

BEIJING -- Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, has stressed the efforts to accelerate the establishment of a new pattern of development and enhance the security and initiative of development.

Xi made the remarks when attending the second group study session of the Political Bureau of the 20th CPC Central Committee on Tuesday afternoon.

He said that accelerating the establishment of a new pattern of development is a strategic decision to realize the Second Centenary Goal and ensure both development and security, as well as a strategic plan to seize the initiative of future development.

Only by accelerating the establishment of a new pattern of development can China consolidate foundation for its economy and enhance the security and stability of its development, Xi said.

And only by doing so can China enhance its strength to survive, compete, develop and sustain amid all sorts of predictable and unpredictable storms and high winds so as to ensure that the process of the great rejuvenation of the Chinese nation will not be delayed or interrupted, and the goal of building China into a great modern socialist country will be realized, he added.

Despite some progress in fostering a new pattern of development, there is still a long way to go before its full establishment, Xi said, calling for adopting a problem-oriented approach and applying systems thinking to tackle major problems, deepen reform, and advance innovation.

A good job must be done in coordinating domestic demand expansion and supply-side structural reform, so as to strike a more desirable dynamic balance between supply and demand and achieve a virtuous cycle of economic development, Xi said.

Xi stressed fostering an integrated domestic demand system, with focuses put on expanding consumption desire backed by incomes, demand of investment with reasonable returns, and demand of financing with principal and debt constraints.

China will also work to establish and improve long-term mechanisms for expanding consumer spending, improve mechanisms that help expand investment, and continue to deepen supply-side structural reform, he added.

Xi also urged efforts to accelerate building the country's self-reliance and strength in science and technology and boost strategic sci-tech strength, in order to make the country a global pacesetter in key scientific and technological fields.

Xi said the new pattern of development should be based on the modern industrial system, and smooth economic operation requires orderly and effective interconnectivity among industries.

The country will continue to keep economic development focused on the real economy and take solid steps to advance new industrialization, he added.

Efforts will also be made to support enterprises' full participation in the global industrial division of labor and cooperation, promote deeper integration of domestic and foreign industries, and build a modern industrial system that is independent, controllable, safe, reliable and highly competitive, Xi said.

He noted that to expand the domestic circulation, China should advance the coordinated development of urban and rural areas, as well as of different regions.

The country should give full play to rural areas as a market of consumption and production factors while it promotes rural revitalization and develops a unified national market, he said.

Impetus and vitality will be injected into the "dual circulation" of domestic and international markets through continued reform and opening-up, Xi said, adding that China will improve mechanisms regarding intellectual property rights protection, market access and fair competition, so as to nurture a favorable environment for all types of market entities.

Aimed at a high-level opening-up, especially on institutional fronts, the country will also contribute to the high-quality development of the Belt and Road Initiative, and actively participate in negotiations of global economic and trade rules to help establish an open, diverse and stable world economic order, Xi said.