Quick Take: China's Central Economic Work Conference(1/5)

The closely watched Central Economic Work Conference was held in Beijing from Wednesday to Thursday as Chinese leaders decided priorities for the economic work in 2025. It was noted at the meeting that the Chinese economy has posted generally stable performance while making progress in 2024, with solid advances made in high-quality development and major annual goals and tasks of economic and social development to be successfully accomplished.

For next year, the meeting emphasized the need to maintain steady economic growth, keep employment and prices generally stable, ensure a basic equilibrium in the balance of payments, and increase residents' income in step with economic growth.

More proactive and impactful macro policies should be implemented to sustain the upward trend of the economy, so as to fulfill the goals and tasks in the 14th Five-Year Plan (2021-2025) with high quality and lay a solid foundation for a good start to the 15th Five-Year Plan (2026-2030), the meeting said.

The meeting called for better coordination between fiscal, monetary, employment, industrial, regional, trade, environmental and regulatory policies and the country's reform and opening up measures.