China's leadership holds symposium for soliciting advice on economic work

The Central Committee of the Communist Party of China (CPC) has held a symposium with non-CPC personages to solicit opinions and suggestions on this year's economic situation and economic work for the next year.

Xi Jinping, general secretary of the CPC Central Committee, presided over the symposium on Dec. 2 and delivered an important speech.

Xi said 2023 is the starting year to fully implement the guiding principles of the 20th CPC National Congress, and the economic work should follow the general principle of making economic stability the top priority and pursuing progress while ensuring stability.

Efforts should be made to better coordinate epidemic response and economic and social development, and to better coordinate development and security, Xi said.

Proactive fiscal policies and prudent monetary policies will be continued, Xi said.

Policies in various spheres will be better coordinated and efforts should be made to vigorously boost the market confidence, and the strategy of expanding domestic demand should be integrated with the deepening of the supply-side structural reform to promote an overall improvement in economic performance, Xi said.

The symposium was attended by Li Keqiang, Wang Yang, Li Qiang, Wang Huning, Han Zheng, Cai Qi, and Ding Xuexiang. Entrusted by the CPC Central Committee, Li Keqiang reviewed this year's economic work and talked about relevant considerations for the economic work of the following year.

Chairpersons of the central committees of eight non-CPC parties, chairperson of the All-China Federation of Industry and Commerce, and a representative of personages without party affiliations made speeches. They agreed with the CPC Central Committee's analysis of the current economic situation and its considerations for the economic work next year.

They also offered suggestions on issues including advancing coordinated development of the Yangtze River and Yellow River basins, promoting low-carbon growth, incentivizing private investment, improving tax regulation on the platform economy, ensuring high-quality employment, and deepening integrated development on both sides of the Taiwan Strait.

These suggestions will be carefully studied and absorbed, Xi said.

Noting that China this year has encountered a challenging international environment and arduous domestic tasks to carry out reforms and ensure development and stability, Xi said the country has faced up to these difficulties, dialed up macro regulation, and maintained the overall stability of the economy and society.

The past five years were unusual and extraordinary for China as it has withstood multiple tests and, in particular, effectively responded to some countries' "decoupling" attempts on economic and technological fronts, Xi noted.

Over the five years, China has kept industrial and supply chains basically stable, maintained the overall stability of its economy, and effectively protected people's lives and health. Its economy grew at an average annual rate of over 5 percent during the period, better than the global average, Xi said.

Summarizing the decade of the new era, Xi said that it was a period when China's economic and social development made historic achievements, underwent historic changes, and shifted to the path of high-quality development.

Xi appreciated the significant contribution made by the other political parties, the All-China Federation of Industry and Commerce, and personages without party affiliation to the decision-making of the CPC Central Committee.

He said he hopes the non-CPC personages will thoroughly study and implement the guiding principles of the 20th National Congress of the CPC, stay in tune with the CPC Central Committee, remain faithful to the original aspirations for cooperation, and pass down fine traditions.

He also called on the non-CPC personages to align their thoughts and actions with the arrangements of the CPC Central Committee on the economic work for the next year, carry out in-depth investigations and research, and put forward weighty opinions and suggestions on major issues such as preventing and controlling the epidemic in a scientific and precise manner, effectively boosting domestic demand, and achieving greater self-reliance and strength in science and technology.

In addition, he hopes they will achieve smooth leadership transitions and further consolidate the foundation for multi-party cooperation to ensure the cause is passed on from generation to generation.

(Updated)