The Political Bureau of the Communist Party of China (CPC) Central Committee convened a meeting on Thursday to analyze the current economic situation, plan economic work in the second half of the year, and review a comprehensive report on the ninth round of disciplinary inspection missions of the 19th CPC Central Committee.

Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting.

It was noted at the meeting that since the beginning of this year, China has been confronted with a complex and challenging international situation, as well as demanding tasks of advancing reform, promoting development, and maintaining stability at home. Under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, we have effectively coordinated COVID-19 response with economic and social development, attaining positive results in COVID-19 prevention and control and making new headway in economic and social development. All of us throughout the country have made strenuous efforts and scored commendable achievements. Still, we have prominent issues to address in pursuing economic development. We should maintain strategic resolve and continue to manage our own affairs well.

It was stressed at the meeting that in order to effectively carry out economic work in the second half of this year, we should adhere to the general principle of pursuing progress while ensuring stability, apply the new development philosophy in full, in the right way, and in all fields of endeavor, move faster to create a new pattern of development, and strive to promote high-quality development. Fully satisfying the requirements for effective COVID-19 prevention, economic stability, and safe development, we should maintain the momentum of our rebounding economy, ensure stable employment and commodity prices, and keep major economic indicators within an appropriate range while striving to achieve the best possible results.

It was noted at the meeting that victory comes from perseverance. We should effectively coordinate epidemic response with economic and social development. The relations between both should be viewed in light of comprehensive, systematic and long-term influences and in particular political implications. We should put the people and human life above all else, work to prevent both inbound cases and domestic resurgences and uphold a dynamic zero-COVID policy. Immediate responses and strict measures should be adopted once an epidemic outbreak occurs, so as to ensure resolute and effective control wherever necessary. No let-up is allowed in relevant efforts. We should faithfully carry out the epidemic response policies and measures identified by the CPC Central Committee, ensuring that key sectors with a bearing on economic and social development function well, and that safeguards are in place wherever necessary. Efforts should also be made to keep close track of virus mutations and promote the R&D of new vaccines and medicines.

It was stressed at the meeting that macro policies should play a proactive role in boosting demand. Fiscal and monetary policies should be able to effectively offset deficiency in social demand. Utilization of special local government bonds should be optimized and local governments should be encouraged to make adequate and good use of the special debt quota. The monetary policy should help maintain a proper and adequate liquidity supply, increase credit support for enterprises, and make good use of new loans from policy banks as well as their funding for infrastructure projects. Efforts should be made to enhance the stability and international competitiveness of industrial and supply chains, facilitate logistics and ensure smooth transportation, optimize the layout of domestic supply chains, and support central and western regions in improving their infrastructure and business environment.

It was emphasized at the meeting that basic security needs should be met on all fronts. More work should be done to safeguard food security, boost the capacity to ensure energy and resource supply, and work out a system for the supply and use of new energy. Actions should also be taken to stabilize the real estate market. Upholding the principle that "housing is for living in, not for speculation," we will make full and good use of our policy toolkit by adopting city-specific policies, and support people's essential housing needs as well as their needs for better housing. The local governments should be held accountable for ensuring timely delivery of pre-sale housing and maintaining stability of living standards. Efforts should also be made to ensure overall stability in financial markets, appropriately deal with risks from rural banks in some localities, and crack down on financial crimes. The meeting also underlined the need to ensure responsibilities for work safety are fulfilled.

It was stated at the meeting that it is imperative to boost economic development through reform and opening up. The three-year action plan for the reform of state-owned enterprises will continue to be implemented. To ensure rule-based, sound and sustained development of the platform economy, a special program for platforms to rectify their problems will be completed and routine supervision and regulation over the platform economy will be put in place. A number of investment cases will be given the green light to encourage orderly investment in the area. Efforts will be urged to boost export, expand import and promote the introduction of technology and foreign investment. High-quality Belt and Road cooperation will be promoted as well.

Solid steps will be taken to ensure people's well-being, according to the meeting. More efforts will be exerted to ensure the basic living needs of people in financial difficulty and facilitate employment for key groups such as college graduates.

At the meeting, the need was noted to keep all relevant parties fully motivated. It was required that all localities and departments shoulder their responsibilities and leading bodies at all levels maintain high morale in their work. It was noted at the meeting that officials should be bold and competent enough to perform their duties.

Major economically developed provinces should play a leading role, and eligible provinces should strive to meet the objectives set for economic and social development this year. Full play should be given to the initiative of enterprises and entrepreneurs, and at the same time sound policies and a favorable institutional environment must be provided, so that state-owned enterprises dare to act, private enterprises dare to develop into new areas and foreign enterprises dare to make investments, according to the meeting.

It was noted at the meeting that, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, endeavor has been furthered to promote disciplinary inspection. The ninth round of inspection missions by the 19th CPC Central Committee focused on central Party and government departments, and inspection tours covering all sectors prescribed by the Party Constitution have been completed as scheduled. This has indicated that our Party has the courage to carry out self-reform, and demonstrated its firm stand that not a single department is exempt from intra-Party oversight. As the inspection tours have shown, central Party and government departments have been continuously boosting the consciousness of the need to maintain political integrity, think in big-picture terms, follow the leadership core, and keep in alignment with the central Party leadership, staying confident in the path, theory, system, and culture of socialism with Chinese characteristics, upholding General Secretary Xi Jinping's core position on the Party Central Committee and in the Party as a whole, and upholding the Party Central Committee's authority and its centralized, unified leadership. They have shown conscientiousness, optimism and a strong sense of responsibility, and have made new progress in their work. At the same time, some problems have also been discovered during the inspection tours, which require our close attention and must be effectively dealt with.

It was stressed at the meeting that central Party and government departments should play an exemplary role in rectifying problems discovered in inspection missions. It is necessary to strengthen political building, make tireless efforts to thoroughly understand and effectively apply Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and improve the capacity for political judgment, thinking and implementation. The central Party and government departments should also set an example in being loyal to the Party and responsible for the people, and resolutely implement to the letter the decisions and plans made by the CPC Central Committee.

The meeting underlined the importance of innovating on the basis of what has worked in the past. The central Party and government departments are required to strengthen their political ability and professional competence, proactively adapt to the requirements of the new era, and grasp the laws governing their work in this era. Keeping in mind the national rejuvenation strategy and once-in-a-century changes taking place in the world, they should fulfill their duties and missions in a down-to-earth manner. It is imperative to fully implement the plans for comprehensively deepening reform, make them systematically integrated, coordinated and efficient, and continuously modernize China's governance system and capacity.

It was stressed at the meeting that central Party and government departments should balance development and security imperatives, pursue a holistic approach to national security, and shoulder the political responsibility for warding off risks. They need to firmly maintain worst-case scenario thinking, and improve their capacity for foreseeing, responding to and coping with major risks.

The central Party and government departments need to maintain their strategic resolve. Remaining committed to the principle of being strict in self-governance, Party committees at all levels and disciplinary inspection and supervisory authorities must be held accountable for the full and rigorous governance of the Party, with major leaders and specific departments at all levels being pushed to take on their respective responsibilities. Mechanisms for intra-Party management and supervision over the exercise of power must be improved to take coordinated measures, so that officials do not have the opportunity, desire or audacity to engage in corruption.

The central Party and government departments will carry out an organizational line for the new era, enhance their leadership bodies, strengthen the ranks of their officials, and improve their primary-level organizations. Results of inspection tours must be put to good use in a comprehensive manner so that both the symptoms and the root causes of problems are addressed. Efforts will be made to improve relevant institutions and mechanisms to boost the work of central Party and government departments.

Other issues were also discussed at the meeting.

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