Source: Xinhua News Agency

The Political Bureau of the CPC Central Committee held a meeting on September 26 to analyze and study the current economic situation and deploy the next economic work. ****, General Secretary of the CPC Central Committee, presided over the meeting.

The meeting believes that, since the beginning of this year, the Party Central Committee with Comrade **** at its core has united and led the people of all ethnic groups across the country to overcome difficulties with composure, increase macro-control efforts, focus on deepening reform and opening up, expanding domestic demand, optimizing economic structure. The overall operation of the economy is stable, making steady progress, new productive forces are steadily developing, solid efforts have been made in ensuring people's livelihoods, positive progress has been made in preventing and defusing risks in key areas, solid progress has been made in promoting high-quality development, and overall social stability has been maintained.

The meeting points out that the basic fundamentals of China's economy, the broad market, strong resilience, and great potential have not changed. At the same time, some new situations and problems have emerged in the current economic operation. It is necessary to comprehensively, objectively, and calmly view the current economic situation, face difficulties, strengthen confidence, effectively enhance the sense of responsibility and urgency in performing economic work. It is important to focus on key areas, take proactive actions, effectively implement existing policies, intensify efforts to introduce new policies, further enhance the targeted and effective nature of policy measures, and strive to achieve the annual economic and social development goals.

The meeting emphasized the need to increase the countercyclical adjustment of fiscal and monetary policies, ensure necessary fiscal expenditures, and effectively carry out grassroots "three guarantees" work. It is necessary to issue and use ultra-long-term special national bonds and local government special bonds, better leverage the government's investment-driven role. It is essential to reduce the reserve requirement ratio, implement substantial interest rate cuts. The goal is to stabilize the real estate market, strictly control the increment of commercial housing construction, optimize the existing stock, improve quality, increase efforts in lending to "white list" projects, and support the revitalization of idle land reserves. Responding to public concerns, adjustments to housing purchase restrictions, lowering interest rates for existing home loans, accelerating the improvement of land, finance, and tax policies, and promoting the establishment of a new model for real estate development. Efforts must be made to boost capital markets, strongly guide long-term funds into the market, and eliminate obstacles for social security, insurance, wealth management, and other funds to enter the market. Support should be provided to listed companies.MergerPromote the restructuring, steadily advance the reform of public funds, and research and introduce policy measures to protect small and medium investors.

The meeting emphasizes the need to help enterprises overcome difficulties and further standardize law enforcement and supervision involving enterprises. It is necessary to introduce a law to promote the private economy and create a favorable environment for the development of the non-public sector economy. The combination of promoting consumption and benefiting the people, promoting income growth among middle and low-income groups, and improving consumption structure should be emphasized. It is important to cultivate new consumption formats, support and regulate the development of social forces in the retirement and childcare industries, urgently improve the childbirth support policy system, increase efforts to attract and stabilize investments, accelerate the implementation of reform measures in the manufacturing sector such as foreign investment access, further optimize the first-class commercial environment characterized by marketization, rule of law, and internationalization.

The meeting emphasized the need to firmly hold onto the bottom line of people's livelihoods, focus on promoting the employment of key groups such as recent graduates from universities, migrant workers, poverty alleviation population, zero-employment families, and strengthen support for difficult-to-employ groups such as older individuals, disabled individuals, and those who have been unemployed for a long time. It is necessary to strengthen assistance for low-income populations. The meeting also highlighted the importance of ensuring the stable supply and prices of essential goods such as food, water, electricity, and heating. Efforts should be made to effectively promote grain and agricultural production, increase farmers' income, focus on autumn and winter production, and ensure national food security.

The meeting required all regions and departments to conscientiously implement the decisions and deployments of the Party Central Committee, take action in a united manner, fully stimulate the enthusiasm, initiative, and creativity of the whole society to promote high-quality development, and drive the economy to continue recovering and improving. Party members and cadres should bravely take on responsibilities, dare to innovate, develop skills and achieve results in overcoming difficulties. It is important to set a good example in selecting and appointing personnel, conscientiously implement the principle of 'distinguishing between different types of people,' and provide support for those who shoulder responsibilities and work hard. It is necessary to support economically strong provinces in playing a leading and supporting role more effectively.

The meeting also discussed other matters.

Editor/Somer