Toward great victory

The meeting mapped out major economic tasks for the next year.

It stressed unwavering implementation of the new development philosophy to promote high-quality development, calling on governments at all levels to adopt a comprehensive and holistic approach.

The meeting called for resolute efforts in the "three tough battles" against major risks, poverty and pollution.

On improving the people's well-being, the meeting underscored ensuring a stable workforce and improving the structure and quality of employment.

The country will continue to implement a proactive fiscal policy and prudent monetary policy. The quality and effect of the fiscal policy must be enhanced with more efforts on structural adjustment, while the monetary policy should be pursued with moderate flexibility to maintain market liquidity at a reasonably ample level.

The growth of credit and social financing should be in keeping with economic development, social financing costs should be reduced, and the supply-side structural reform of the financial sector should be deepened, said the statement.

The meeting called for promoting industrial and consumption upgrading, fully tapping into the advantages of China's considerable market, and giving play to the underpinning role of consumption and the pivotal role of investment.

In terms of boosting high-quality development, the meeting stressed building new driving forces through faster implementation of regional development strategies, such as the coordinated development of the Beijing-Tianjin-Hebei region, the integrated development of the Yangtze River Delta, and the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.

The country will work to build a number of advanced manufacturing clusters with international competitiveness.

The reform of the economic system will be deepened, with the reform of state-owned assets and enterprises to be accelerated, said the statement.

China's opening-up will continue to develop on a larger scale and at a deeper level. Foreign investment will be facilitated and better protected. The country will further shorten the negative list for foreign investment, lower the overall tariff level, and encourage enterprises to diversify export markets.

The meeting called for maintaining stable growth of foreign trade, ensuring stable and greater use of foreign investment, and making solid progress in jointly building the Belt and Road.

Completing the building of a moderately prosperous society in all respects and achieving the goals of the 13th Five-Year Plan will be the top priority of the CPC's work next year, and concerted efforts should be made in this regard to secure a great victory, said the statement.

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