Fully and Faithfully Implementing the New Development Philosophy Throughout the Process of Our Development

We need to promote the creation of the new development dynamic. We need to integrate further supply-side structural reform and the expansion of domestic demand and make greater efforts to improve the supply system and ensure smooth economic flows, so as to form a better dynamic equilibrium in which demand drives supply and supply boosts demand. We need to accelerate the cultivation of a complete domestic demand system, fully leverage the advantages of our enormous domestic market, and bolster the fundamental role of consumption in economic development. We should intensify investment in areas of weakness, effectively and systematically promote the implementation of major projects in the 14th Five-Year Plan, and make good use of policy-based and development finance tools. We need to continue the reform of the investment and financing system, improve all aspects of the investment environment, and strengthen the key role of investment in optimizing the supply structure. Focusing on smooth domestic economic flows, we need to create a strong domestic market and realize rational flows and effective concentrations of all types of production factors.

We need to implement an innovation-driven development strategy. We need to reinforce our capacity for independent innovation, basic research, applied research, and applications of scientific and technological advances. We need to strengthen the iterative application of major innovations, adopt systems to select the best candidates to undertake key research projects and to create an environment for healthy competition, and advance research on core technologies in key areas. We must strengthen institutional guarantees for scientific and technological innovation, optimize enterprise innovation as well as incentive and guidance mechanisms, boost personnel training, and strive to build a market-oriented technological innovation system in which enterprises are the main players and with strong synergy between industry, academia, and research. We need to expand, strengthen, and refine our digital economy and promote the continued digital transformation of traditional industries and the innovative development of digital industries. We need to adopt an appropriate degree of forward planning for major national science and technology infrastructure, accelerate the development of high-level innovation platforms, and create regional innovation hubs. We also need to take a global perspective when planning and promoting innovation, engage in international cooperation on basic theoretical and industrial innovations, and comprehensively improve the international influence of China's scientific and technological innovations.

We need to deepen market-oriented reforms and spread a high level of openness. We need to build a high-level socialist market economic system, commit to the development of both the public and private sectors of the economy, and create a good policy and institutional environment, so that state-owned enterprises have the confidence to act, private enterprises have the confidence to innovate, and foreign enterprises have the confidence to invest. We need to build a market system with high standards, reform the market-based allocation of factors of production, and accelerate the construction of a unified, open, efficient, and well-regulated national market that allows fair competition. We will create new ideas and methods for macro-control, improve the macro-economic governance system, and promote equilibrium between total supply and total demand, structural optimization, and internal and external balance in the economy. We will accelerate the transformation of government functions, advance reforms to streamline administration, delegate power, improve regulation, and upgrade services, and build a first-rate business environment. We need to develop a new and improved open economic system and encourage trade innovation and development. We need to ensure the quality of what we bring in and what we send overseas, improve the layout of pilot free trade zones, and liberalize and facilitate trade and investment. We also need to promote the high-quality development of Belt and Road cooperation and engage in pragmatic cooperation at various levels and in a range of areas.

We need to boost coordinated urban-rural and regional development. We must implement the rural revitalization strategy in all respects by continuing to prioritize the development of agriculture and rural areas, building a rural industrial system, developing new methods of rural governance, and quickly modernizing agriculture and rural areas. We need to promote the new urbanization strategy in-depth, encourage people with rural household registration living in urban areas to obtain urban residency, and improve the urban spatial distribution. We must tackle urbanization with the focus on urban agglomerations, create an urban structure in which cities of all sizes and small towns develop in coordination with each other, and improve sustainability and livability in the course of urban development. We will continue to implement major regional strategies, coordinated regional development strategies, and the functional zoning strategy, and create regional economic structures and a territorial space system to sustain high-quality development. We will accelerate the coordinated development of Beijing, Tianjin and Hebei, develop the Yangtze River Economic Belt, advance the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, increase the integrated development level of the Yangtze River Delta, and push forward the ecological protection and high-quality development of the Yellow River Basin. We will also step up efforts to support the development of special regions and strive for relative balance in the development of different regions.

We need to encourage green and low-carbon development. We need to support practical applications of green and low-carbon technological innovations, establish a sound economic structure that facilitates green, low-carbon, and circular development, and promote a green transformation in all aspects of our economic and social development. We must coordinate and steadily promote efforts to reach peak carbon and implement the action plan to achieve carbon neutrality. We need to encourage cleaner and more efficient use of coal, build large-scale wind and solar bases in deserts and upgrade nearby supporting coal-fired power facilities. We also need to support the construction of ultrahigh-voltage long-distance power transmission lines and accelerate planning and construction of systems of new energy supply and consumption. We need to implement the transformation and upgrading of key industries and enterprises whose energy efficiency performance is below the benchmark and curb the unchecked development of low-quality, energy-intensive, and high-emissions projects. We must persevere with the systematic management of mountains, rivers, forests, croplands, lakes, grasslands, and deserts. We should improve the system of ecological security shields and strictly defend red lines for protecting ecosystems in order to improve the quality and stability of ecosystems. We need to improve environmental quality, adopt targeted, scientific, and law-based approaches to pollution control, work harder to control multiple pollutants in a coordinated way with all regions working together, and intensify efforts to prevent and control pollution.

We need to strive to protect and improve public wellbeing. We need to prioritize employment and pursue a proactive employment policy. We need to effectively assist members of key groups in society, such as college graduates, to find employment, expand employment capacity, and raise employment quality. We must promote common prosperity in the course of high-quality development by raising the incomes of low-income earners, expanding the middle-income group, and rationally regulating high incomes, in order to achieve social fairness and justice. We need to quickly create a fair, unified, and sustainable multi-tiered social security system that covers the entire population in both urban and rural areas and ensure that public services are inclusive, meet essential needs, and guarantee basic living standards for people in difficulty. We need to construct a quality education system and a comprehensive healthcare system covering all stages of life and promote high-quality, well-balanced, and integrated development of compulsory education in both urban and rural areas. We need to strengthen our public health system, increase the supply of medical services and resources, and improve our disease containment and treatment capabilities. We must be proactive in our response to population aging by accelerating the development of elderly care services and optimize the family-planning policy to promote balanced, long-term population development.

We need to balance development and security imperatives. We must implement our food security strategy, advance implementation of the food crop production strategy based on farmland management and applications of technology, and strive to revitalize the seed industry. We also need to improve the system for coordinating the production, purchasing, storage, processing, and sale of grain to ensure absolute food security, basic self-sufficiency in cereal grains, and abundant supplies of secondary agricultural products. We need to implement our energy and resource security strategy by emphasizing domestic supply while remedying shortcomings, establishing diversified guarantees, and bolstering reserves, as well as enhancing our capacity to provide a steady and sustainable supply of energy and to manage related risks. We need to enhance adjustments to our reserves of bulk commodities and build homegrown, controllable, secure, and reliable domestic production and supply systems to ensure the security and stability of industrial and supply chains. We need to maintain the stability of financial markets and forestall and diffuse major financial risks. We should uphold the principle that houses are for living in and not for speculation and tailor policies to each city's specific conditions in order to stabilize the real estate market. We need to solve issues related to water safety, bolster our national cyber and information security, and improve disaster prevention and mitigation capabilities. We also need to enforce the system of accountability for workplace safety and prepare ourselves for worst-case scenarios to prevent systemic risks.