How to Ensure Successful Performance of the Economy in 2025

Fully grasping the overall requirements set forth at the Central Economic Work Conference

To ensure successful performance of the economy in 2025, we must make efforts in the following aspects:

--following the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, adhering to the general principle of pursuing progress while maintaining stability, and fully and faithfully implementing the new development philosophy. 

--moving faster to create a new development dynamic, making solid efforts to promote high-quality development, furthering comprehensive reform, expanding high-standard opening up, building a modern industrial system, and better coordinating development and security. 

--implementing more proactive and impactful macro policies, expanding domestic demand, promoting integrated sci-tech and industrial innovation, ensuring stability in the real estate and stock markets, and preventing and resolving risks in key areas as well as external shocks. 

--stabilizing expectations and stimulating vitality, promoting sustained economic recovery, making ongoing efforts to raise living standards, and maintaining social harmony and stability. 

--Completing the goals and tasks for the 14th Five-Year Plan (2021–2025) to a high standard and laying the foundations needed to ensure a good start to the 15th Five-Year Plan (2026–2030). 

Fully implementing the policy orientation put forward at the Central Economic Work Conference

We should maintain a steady pace of growth, keep employment and prices generally stable, ensure a basic equilibrium in the balance of payments, and see that personal income rises in step with economic growth. 

We should continue to pursue growth while ensuring stability, promote stability through progress, uphold fundamental principles and break new ground, and introduce new policies before abolishing the old. We must pay attention to boosting integration and coordination, enrich and refine the policy toolkit, and make macro regulation more forward-looking, targeted, and effective. 

We should adopt a more proactive fiscal policy, implement an appropriately accommodative monetary policy, and strengthen coordination between fiscal, monetary, employment, industrial, regional, trade, environmental, and regulatory policies as well as initiatives for reform and opening up. Efforts must be made to ensure policy synergy and increase the overall effectiveness of policies.

Focusing on accomplishing major tasks in key areas

Efforts should be made to vigorously boost consumption, improve investment efficiency, and expand domestic demand. We should drive the development of new quality productive forces through scientific and technological innovation and build a modern industrial system. We should leverage the leading role of economic reform by ensuring that landmark reform measures are fully implemented and deliver meaningful results. We need to expand high-standard opening up while keeping foreign trade and foreign investment stable. 

We must effectively prevent and defuse risks in key areas to ensure that no systemic risks occur. Efforts should be made to pursue coordinated progress in new urbanization and all-around rural revitalization and promote integrated urban-rural development. Steps should be taken to strengthen the implementation of regional strategies and boost regional development vitality. 

We must work to cut carbon emissions, reduce pollution, pursue green development, and boost economic growth in a concerted manner, and strive to ramp up the transformation to a green model of economic and social development. Finally, we need to ensure and improve people's wellbeing and give people a stronger sense of fulfillment, happiness, and security.

Editor: Yi Xiaowei