The Party Group of the National Development and Reform Commission of the Communist Party of China wrote in “Qiushi” magazine that it is strengthening the guarantee of economic security capabilities. Improve the real estate business entity supervision system, promote the construction of affordable housing, accelerate the construction of a new model of real estate development, and promote the steady and healthy development of the real estate market.
Financial Services Association, May 16: The Party Group of the National Development and Reform Commission of the Communist Party of China wrote in “Qiushi” magazine that it is strengthening the guarantee of economic security capabilities. Improve the real estate business entity supervision system, promote the construction of affordable housing, accelerate the construction of a new model of real estate development, and promote the steady and healthy development of the real estate market. Coordinate local debt risk mitigation and stable development, establish a long-term mechanism to prevent and mitigate local debt risks, and establish a government debt management mechanism compatible with high-quality development. Comprehensively strengthen financial supervision, improve risk management responsibility mechanisms with consistent powers and responsibilities, and improve the basic investor-based capital market system. Strengthen safety capacity building in key areas, improve collaborative guarantee mechanisms for the purchase, storage and marketing of grain production, speed up planning and construction of a new energy system, speed up the construction of a data infrastructure system, establish a major national reserve system, and effectively maintain the safety and stability of the industrial chain supply chain.
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Further comprehensively deepen economic system reform and promote Chinese-style modernization through high-quality development
Since the 18th National Congress of the Party, the Party Central Committee, with Comrade Xi Jinping at the core, has used great political courage to comprehensively deepen reforms, adhere to goal leadership, highlight problem orientation, resolutely break down the shortcomings of various institutional mechanisms, and push the Party and the country to achieve historic achievements and historic changes in various undertakings with unprecedented vigor. General Secretary Xi Jinping personally planned, personally deployed, and personally promoted comprehensive and deepening reform work, putting forward a series of original, contemporary, and guiding new ideas, new opinions, and new arguments. We should systematically and thoroughly study and implement the spirit of General Secretary Xi Jinping's important remarks on comprehensive deepening reforms, consciously place reforms in a more prominent position, set the direction, maintain integrity and innovation, and really work hard, and push for comprehensive deepening of economic system reforms to go deeper and more practical.
1. Thoroughly study and understand the spirit of General Secretary Xi Jinping's important remarks on comprehensively deepening reforms
General Secretary Xi Jinping made a series of important remarks on comprehensive and deepening reforms. They are ambitious, rich in content, and profound. They combine the basic principles of Marxism with China's specific reality and outstanding traditional Chinese culture. He clarified that the overall goal of comprehensive deepening reform is to improve and develop the socialist system with Chinese characteristics, modernize the country's governance system and governance capacity, and comprehensively explain the correct direction, principles, methods, and key tasks of the reform. These important statements provide fundamental guidelines for further comprehensive deepening of reforms from a new historical starting point and a new historical perspective, and are of great theoretical and practical significance.
There is a direction, a position, and a principle for comprehensively deepening reforms. General Secretary Xi Jinping stressed that the purpose of advancing reforms is to continuously promote the self-improvement and development of our country's socialist system and give socialism new vitality; the core of this is to uphold and improve the Party's leadership and uphold and perfect the socialist system with Chinese characteristics. If we deviate from this rule, then it is the opposite. General Secretary Xi Jinping's important remarks point out the way forward and value orientation for comprehensive and deepening reforms, and emphasized the need to give full play to the Party's central leadership role in overseeing the overall situation and coordinating all parties, and adhere to the direction of socialist market economy reform to promote social fairness and justice and enhance people's welfare as the starting point and foothold, and ensure that reforms always move in the right direction. In the new era and new journey, we must adhere to the Party's leadership in comprehensively deepening reforms, adhere to the fundamental direction of socialism with Chinese characteristics, better adapt to major contradictions and changes in our society, rely closely on the people to push for reforms, and use more reform methods to promote high-quality development, so that development is for the people, development depends on the people, and the results of development are shared by the people.
Comprehensive deepening of reforms is the fundamental driving force for advancing Chinese-style modernization. General Secretary Xi Jinping stressed that if China wants to move forward, it must comprehensively deepen reform and opening-up; in the face of the new situation and new tasks, we must focus on resolving a series of outstanding contradictions and problems facing China's development through comprehensive deepening reforms, and continuously promote the self-improvement and development of the socialist system with Chinese characteristics. Currently, China is embarking on a new journey of comprehensively building a modern socialist country, marching towards the goals of the second century, and comprehensively advancing the great rejuvenation of the Chinese nation through Chinese-style modernization. We are in a critical period of leapfrogging from a middle-income country to a high-income country. The key to achieving this leap forward is whether the economic structure can be transformed and upgraded, and whether economic development can achieve a major shift from being driven by factor investment to being driven by technological innovation. Comprehensively deepening reforms, and providing dynamic institutional guarantees for achieving Chinese-style modernization by breaking down institutional and institutional barriers in all aspects of economic and social development, is an important gripper for stabilizing the overall situation, adapting to the situation, and opening up a new one. In the new era and new journey, it is necessary to focus on the major issues of Chinese-style modernization, plan and push forward reforms, effectively address major risks and challenges, write a new chapter to deepen market-based reforms, expand a high level of opening-up, and accelerate innovation-driven development, and push the cause of the Party and the country forward.
Comprehensive deepening of reforms is an inevitable requirement for developing a new quality of productivity. General Secretary Xi Jinping stressed that to develop new quality productivity, it is necessary to further comprehensively deepen reforms and form a new type of production relationship compatible with it. Today's century-old changes in the world are evolving in an all-round and profound manner. A new round of scientific and technological revolution and industrial transformation is developing in depth. Scientific and technological innovation profoundly reshapes the basic elements of productivity, spawns new industries and new business formats, and promotes the development of productivity to a higher and more advanced quality. Since the 18th National Congress of the Party, China's innovation-driven development capabilities have been steadily improving, and the total number of R&D personnel has steadily ranked first in the world, and has achieved a series of major achievements in the fields of manned space flight, quantum information, nuclear power technology, and large aircraft manufacturing. New quality productivity has been formed in practice and has shown a strong driving force and support for high-quality development. Production relationships must be adapted to the requirements of productivity development. By comprehensively deepening reforms in the economic system, science and technology system, etc., a new type of production relationship compatible with new quality productivity can be formed, which can effectively break through blockages, improve factor allocation efficiency, and allow all kinds of advanced and high-quality production factors to flow smoothly to the development of new quality productivity. In the new era and new journey, it is necessary to continue to deepen reforms in key areas, promote industrial innovation through scientific and technological innovation, establish a high-standard market system, provide a high level of institutional supply, create a favorable institutional environment for the development of new quality productivity, provide strong support for the construction of a strong nation and national rejuvenation, and win strategic initiative in fierce international competition.
To comprehensively deepen reforms, we must adhere to the correct methodology. General Secretary Xi Jinping stressed that reform and opening-up is a brand-new undertaking that has never been seen before. We must adhere to the correct methodology and advance it through continuous practical exploration. Currently, comprehensive and deepening reforms have entered a deep-water zone and an aggressive period. It is necessary to coordinate all aspects, levels, and elements, and focus on promoting mutual promotion, healthy interaction, and coordination of all reforms. General Secretary Xi Jinping has put forward clear requirements for adhering to the correct methodology many times, stressing that attention should be paid to the systemic, holistic, and collaborative nature of reforms, strengthening the combination of top-level design and crossing the river, “being bold and steady,” and handling the stable relationship between reform and development. These important statements contain the philosophical essence of dialectical materialism and historical materialism, and are scientific guidelines for promoting the implementation of reforms. In the new era and new journey, we must adhere to problem-oriented comprehensive deepening of reforms, strengthen reform research, step up efforts to implement reforms, achieve a combination of comprehensive promotion and key breakthroughs, and push for the effective implementation of various reform initiatives.
II. Historic achievements have been made in comprehensively deepening economic system reforms
Since the 18th National Congress of the Party, basic institutional frameworks in various fields have basically been established, and historic changes, systematic reshaping, and overall restructuring have been achieved in many fields. Looking at economic system reform, continuously improving the basic socialist economic system, speeding up the improvement of the socialist market economy system, adhering to “two unwavering”, giving full play to the decisive role of the market in resource allocation, giving better play to the role of government. The market system and macro-control system continue to improve, injecting strong impetus into promoting high-quality development and writing a new chapter in the miracle of economic development.
The construction of a unified, open, competitive and orderly market system has achieved positive results. Over the past decade, China has promoted a better integration between an effective market and a promising government, steadily promoted the construction of a high-standard market system, deepened market-based reforms of factors, and accelerated the formation of a unified national market with efficient regulation, fair competition, and full openness. Deepen the reform of state-owned state-owned enterprises, and make the functional positioning, layout direction, and adjustment mechanisms of the state-owned economy more clear. The property rights of private enterprises and the rights and interests of entrepreneurs are protected according to law, and the environment for private economic development is continuously optimized. The negative market access list system and fair competition review system have been thoroughly implemented, and the level of market-based, rule-of-law, and internationalization of the business environment has improved markedly. By the end of 2023, the number of registered business entities reached 184 million, including more than 53 million private enterprises, an increase of 2.3 times and 3.9 times, respectively, over 2012.
The macroeconomic governance system continues to improve. Over the past 10 years, China has given full play to the strategic guiding role of national development plans, given full play to the macro-guiding role of annual plans, strengthening coordination of fiscal, monetary, employment, industry, investment, consumption, environmental protection, regional and other policies, including non-economic policies and economic policies in the consistent assessment of macroeconomic policy orientation. The forward-looking, pertinent and effectiveness of macroeconomic control has further improved, and China's economic strength has greatly improved. In 2023, the gross domestic product exceeded 126 trillion yuan, and the growth rate was among the highest among the world's major economies. Over the years, China has been the biggest driving force for world economic growth, contributing more than 30% to world economic growth.
The modern industrial system developed and expanded. Over the past 10 years, China has insisted on focusing on economic development on the real economy, vigorously improving the institutional mechanism for scientific and technological innovation, building a new national system for research on key core technologies, establishing and perfecting a technological innovation system with enterprises as the main body, market-oriented, and deep integration of industry, education and research, further promoting supply-side structural reforms, and continuously improving the quality and efficiency of the supply system by optimizing factor allocation and adjusting production structures. From 2012 to 2023, the entire society's R&D investment increased from 1.03 trillion yuan to 3.3 trillion yuan. The ratio to GDP reached 2.64%, exceeding the average of EU countries, and the results of innovative nation-building were remarkable. The industrial structure is continuously optimized, the transformation of traditional industries is accelerating, emerging industries are booming, and the scale of the service industry continues to grow. The value added of the manufacturing industry has reached about 30% of the world, ranking first in the world for 14 consecutive years. Among them, the value added of high-tech manufacturing and the value added of the equipment manufacturing industry increased from 9.4% and 28% in 2012 to 15.7% and 33.6% in 2023, respectively. The share of value added in the service sector increased from 45.5% in 2012 to 54.6% in 2023.
Accelerate the establishment of a new open economy system. Over the past 10 years, China has implemented comprehensive opening-up on a wider scale, in a wider range of fields, and at a deeper level, and bilateral, regional and multilateral cooperation has continued to advance. China has become the main trading partner of more than 140 countries and regions, and the total import and export volume of goods has ranked first in the world for many years. The pre-entry national treatment plus negative list management system for foreign investment has been fully implemented. The construction of global trade, investment and financing, production and service networks has been accelerated, and institutional opening-up with rules, regulations, management, and standards has been accelerated. The construction of 22 pilot free trade zones and the Hainan Free Trade Port is booming, and 22 free trade agreements have been signed with 29 countries and regions. The joint construction of the “Belt and Road” has become the most popular international public product and the largest international cooperation platform in the world today. China has signed more than 230 “Belt and Road” cooperation documents with more than 150 countries and more than 30 international organizations, and China-Europe trains reach more than 200 cities in 25 European countries.
The people's sense of attainment, happiness, and security continues to grow. Over the past 10 years, China has adhered to the people-centered idea of development, focusing on solving the people's urgent problems, promoting social reform and innovation, launching a series of major reform initiatives in the fields of income distribution, employment, education, social security, old-age care, health care, housing security, etc., to win the fight against poverty, historically solve the problem of absolute poverty that has plagued the Chinese nation for thousands of years, and has made great progress in nurturing, nurturing, living, and supporting the weak at an early age. By improving institutional mechanisms to promote employment and entrepreneurship, more than 140 million new urban jobs have been added from 2013 to 2023. The income growth of urban and rural residents is basically in sync with economic growth, with more than 400 million people in the middle income group. The level of equalization of basic public services continues to rise, and the largest social security system in the world has been built. Promote major regional strategies and coordinated regional development strategies in an integrated manner, promote a new type of people-centered urbanization, and further improve institutional mechanisms for coordinated regional development and integrated urban-rural development. The ecological civilization system continues to improve, and ecological environment protection has undergone historic, transformational, and global changes.
Economic security and security capabilities continue to improve. Over the past 10 years, China has adhered to the overall national security concept, accelerated the improvement of a unified, efficient and authoritative national security leadership system, and accelerated the construction of a new security pattern, providing a solid guarantee for the new development pattern. The grain production, storage and marketing system has been continuously improved, and the red line of 1.8 billion mu of arable land has been firmly maintained to achieve basic self-sufficiency in grain and absolute safety in food rations. The energy supply guarantee capacity continues to improve. The total energy production at one time has reached 4.83 billion tons of standard coal, and the installed capacity of renewable energy power generation exceeds 50% of the total installed capacity. The autonomous and controllable capabilities of the industrial chain supply chain are constantly being strengthened, shortcomings in industrial safety development are being filled at an accelerated pace, and the supply and price stability of commodities and raw materials is strong and orderly. Data security capacity building continues to advance. Financial risk prevention and control systems have been gradually improved.
3. Comprehensive deepening of economic system reform has accumulated valuable historical experience
The practice of comprehensively deepening economic system reform since the 18th National Congress of the Party has not only achieved many major historic achievements, but also accumulated many invaluable historical experiences. It is of great guiding significance for further comprehensively deepening economic system reform and vigorously breaking down institutional and institutional barriers to high-quality development in the new journey. It requires long-term persistence and continuous improvement and development.
Adhere to the overall leadership of the Party. The key to doing China's affairs well lies with the Party. After the 18th National Congress of the Party, the Central Committee established the Leading Group for Comprehensive and Deepening Reform. In 2018, it was changed to the Central Committee for Comprehensive and Deepening Reform. General Secretary Xi Jinping personally served as the leader of the leading group and chairman of the committee, strengthening the direction and coordination of the reform work, and strongly guided and promoted the successful advancement of the reform process. Looking ahead to the new journey, the task of reform will still be very arduous and burdensome. Only by constantly strengthening and improving the Party's overall leadership of reform can we ensure that the reform is moving in the direction of socialism, can we effectively mobilize and organize the whole Party and the people of all ethnic groups throughout the country to work together, and successfully meet the difficulties, obstacles, risks and challenges along the path of reform.
Adhere to the people-centered approach. Seeking happiness for the Chinese people and revival for the Chinese nation is the original mission of the Chinese Communist Party and the original mission of comprehensively deepening reforms. Promoting the achievements of reform and development to benefit all people more and more fairly is our goal. Giving full play to the pioneering spirit and subjective activism of the masses is a source of strength to push forward reforms. Looking forward to the new journey, only by adhering to the supremacy of the people, standing firm in the people's position, grasping the wishes of the people, respecting people's creativity, and concentrating on the wisdom of the people can we propose and implement the correct reform plan, and can we gain strong impetus for further comprehensive deepening of reforms from the people's practical creativity and support.
Adhering to high-quality development is the last word of the new era. Development is the Party's first priority in revitalizing the country, and high-quality development is the top priority for the all-round construction of a modern socialist country. The comprehensive deepening of reforms is due precisely to firmly holding back the center of economic construction, and vigorously breaking down deep-seated institutional and institutional barriers by concentrating on solving systemic problems, thereby continuously stimulating the endogenous motivation and vitality of high-quality development, and making China's economic strength, scientific and technological strength, comprehensive national strength and international influence rise by leaps and bounds. Looking forward to the new journey, only by firmly grasping the priority of high-quality development, vigorously liberating and developing social productivity, and stimulating and enhancing social vitality can we better solve the problem of unbalanced development and lay a solid material and technical foundation for building a strong nation and reviving the nation.
Adhere to the path of socialism with Chinese characteristics. The direction determines the future, and the path determines fate. The path of socialism with Chinese characteristics is the Kangzhuang road for contemporary China to catch up with the world and lead the development of the times. Following the path of socialism with Chinese characteristics is the fundamental direction for comprehensively deepening reforms. What to reform and how to reform must be based on whether it is in line with perfecting and developing the socialist system with Chinese characteristics, and whether it is in line with better transforming the advantages of our country's system into the effectiveness of governance. Looking forward to the new journey, only by unswervingly adhering to the correct direction of reform and maintaining unchanging ambition and path can we firmly grasp the initiative of reform into our own hands, and can we carry out the right, steady, and far in further comprehensive deepening of reforms.
Insist on promoting reform through opening-up. Opening up to the outside world is China's basic national policy. Along with reform and innovation, they are all important driving forces for China's economic and social development. Building a new economic system with a higher level of openness is not only a strategic choice made in line with complex and profound changes in the international development environment, but also an intrinsic requirement for improving the socialist market economy system and building new advantages in international economic cooperation and competition. Looking forward to the new journey, only by holding high the banner of peace, development, cooperation, and win-win situation and unswervingly deepening high-level opening-up to the outside world, especially institutional opening-up, can we push reforms into a continuous march in breadth and depth, and push forward the grand cause of Chinese-style modernization.
Adhere to the system concept. The reform is a profound and comprehensive social transformation. It is a complex system project involving all levels in various fields of economic and social development. Since the 18th National Congress of the Party, we have adhered to the general tone of steady progress, and paid more attention to coordination, linkage and mutual promotion and cooperation of reforms in various fields in comprehensive and deepening reforms, so as to better achieve the overall balance of the interests of all parties and achieve coordination in the intensity of reform, the pace of development, and the degree of social affordability. Looking ahead to the new journey, only by further strengthening the forward-looking thinking, global planning, strategic layout, and overall promotion of reforms can we promote a more systematic, scientifically standardized, and effective operation of all aspects of the system, effectively improve the modernization level of the country's governance system and governance capacity, and provide stronger institutional guarantees for advancing Chinese-style modernization.
4. Make every effort to push forward and implement the major tasks of economic system reform
The present and coming period is a critical period for comprehensively advancing the construction of a strong nation and the revival of the nation through Chinese-style modernization. It is necessary to continue to advance reforms, highlight problem orientation, focus on solving the problems that limit the construction of a new development pattern and promote high-quality development, pain points and difficult issues in the field of development environment and people's livelihood, and key and hot issues that are contrary to social fairness and justice, effectively prevent and mitigate major risks, and continuously add impetus and vitality to economic and social development. Looking at economic system reform, focus on building a high-level socialist market economy system, and focus on seven areas of work.
The first is to improve and implement the “two unwavering” institutional mechanisms. Give full play to the decisive role of the market in resource allocation, give better play to the role of government, promote the collaborative development of enterprises with various forms of ownership, and fully stimulate the endogenous motivation and innovation vitality of various business entities. Deepen the reform of state-owned state-owned enterprises, improve the country's economic management system, and cultivate a number of state-owned enterprises with strong core competitiveness. Support the development and growth of the private economy and private enterprises, implement a normalized communication mechanism, and protect the property rights of private enterprises and the rights and interests of entrepreneurs in accordance with the law. Promote outstanding entrepreneurship and support entrepreneurs to focus on innovation and development. Accelerate the construction of world-class enterprises and support the development of micro, small and medium-sized enterprises.
The second is to establish a high-standard market system. Accelerate the improvement of basic market economy systems such as property rights protection, market access, fair competition, and social credit. Improve long-term institutional mechanisms adapted to the construction of a unified national market, and vigorously rectify market monopoly and unfair competition. Improve the market entry system and continue to promote the liberalization of entry into new business formats and fields. Deepen market-based reform of factors and promote the rational flow and optimal allocation of various productivity factors across regions. Improve the macroeconomic governance system, improve the macroeconomic policy coordination mechanism, give better play to the strategic guiding role of national development plans, and strengthen the assessment of the consistency between newly introduced policies and macroeconomic policy orientations.
The third is to break through the blockages and difficulties in the development of new quality productivity. Comprehensively promote self-reliance and self-improvement in high-level science and technology, deepen reforms in the science and technology system, education system, talent system, etc., and improve basic systems to support comprehensive innovation. Accelerate the establishment of an innovation system led by industry demand, and continue to strengthen intellectual property protection. Accelerate the construction of a modern industrial system, thoroughly implement major technological transformation and upgrading and large-scale equipment upgrading projects in the manufacturing industry, accelerate the transformation and upgrading of traditional industries, and actively cultivate strategic emerging industries with advanced international standards and competitiveness. Promote the deep integration of digital technology with the real economy, improve basic data systems, and vigorously promote open data development, circulation and use.
Fourth, build a new economic system with a higher level of openness. Take the initiative to raise standards in international economic and trade rules, and steadily expand institutional openness such as rules, regulations, management, and standards. Promote the optimization and upgrading of trade in goods, innovate development mechanisms for trade in services, and develop digital trade. Continuously improve the mechanism for protecting the rights and interests of foreign investors, further reduce the negative list of foreign investment admissions, and continue to build a market-based, rule-of-law, and world-class business environment. Further facilitate the exchange of Chinese and foreign personnel, and effectively overcome the blockage of foreigners coming to China to work, study, and travel. Promote the joint construction of high-quality “Belt and Road” development, build pilot free trade zones to a high standard, and create more high-energy open cooperation platforms with the outside world. Actively participate in the reform and construction of the global governance system and maintain a diverse and stable international economic pattern and economic and trade relationships.
The fifth is to step up reforms in the field of people's livelihood. Deepen the reform of the income distribution system, gradually increase the share of residents' income in national income distribution, and increase the share of labor remuneration in the initial distribution. Improve the employment public service system, improve the employment support system for key groups, and improve the workers' rights and interests protection system. Improve the multi-level social security system, promote the expansion of social insurance enrolment, improve national coordination of pension insurance, and improve mechanisms for basic pension and basic medical insurance funding and entitlement adjustments. Improve the hierarchical social assistance system, and improve the mechanism for dynamic adjustment of minimum subsistence security standards. Improve institutional mechanisms for regional coordination and integrated urban-rural development, and establish a regional economic layout and territorial spatial system with complementary advantages and high-quality development.
The sixth is to improve the institutional mechanism for a comprehensive green transformation. Collaborate to promote ecological environment protection and green and low-carbon development, and continue to thoroughly fight pollution prevention and control. Accelerate the cultivation and expansion of green and low-carbon industries, and accelerate the construction of green manufacturing and service systems. Strengthen resource conservation and intensive recycling, and establish a waste recycling system. Improve ecological protection compensation systems and ecological product value realization mechanisms, and promote industrial ecology and ecological industrialization. Actively and steadily promote carbon neutrality, establish and improve carbon peak carbon neutrality standard measurement systems, and improve carbon pricing mechanisms.
The seventh is to strengthen the guarantee of economic security capabilities. Improve the real estate business entity supervision system, promote the construction of affordable housing, accelerate the construction of a new model of real estate development, and promote the steady and healthy development of the real estate market. Coordinate local debt risk mitigation and stable development, establish a long-term mechanism to prevent and mitigate local debt risks, and establish a government debt management mechanism compatible with high-quality development. Comprehensively strengthen financial supervision, improve risk management responsibility mechanisms with consistent powers and responsibilities, and improve the basic investor-based capital market system. Strengthen safety capacity building in key areas, improve collaborative guarantee mechanisms for the purchase, storage and marketing of grain production, speed up planning and construction of a new energy system, speed up the construction of a data infrastructure system, establish a major national reserve system, and effectively maintain the safety and stability of the industrial chain supply chain.
editor/tolk