The central economic work conference was held in Beijing from December 14 to 16, 2016. Xi Jinping, Li Keqiang, Zhang Dejiang, Yu Zhengsheng, Liu Yunshan , Wang Qishan, Zhang Gaoli and other party and state leaders attended the meeting. China Minmetals party secretary, Chairman of the board of directors He Wenbo attended the meeting.
Xi delivered an important speech at the meeting, analyzed the current domestic and international economic situation, summarized the economic work in 2016, clarified the guiding principle of the economic work, and deployed the economic work in 2017. Li Keqiang in his speech expounded the macroeconomic policy orientation next year, presented specific deployment on the economic work in 2017, and made a summing-up speech.
The meeting pointed out that, since 2016, we have fully implemented the decisions of the central economic work conference, strengthened party leadership over the economic work, adhered to seek improvement in stability, insisted on the new development concept, boosted structural reforms of the supply side, moderately expanded demand, pushed forward reform firmly, properly coped with the challenge of risk and guided the tendency of good social expectations . As a result, the economy and society maintained steady and healthy development, and realized a good start of the “Thirteenth five-year plan ".
The meeting pointed out that since the 18th party congress, we preliminarily established the economic policy framework which adapts to the new normal economic development, made the judgment that economic development entered into the new normal. Understanding and leading the new normal is the logic of doing a good job in economic development currently and in the future. 2017 is an important year for the "Thirteenth five-year plan", it is the year of deepening the structural reform of supply side, we should insist on structural reforms of the supply side, moderately expand the total demand, and realize healthy and steady economic development, social harmony and stability, to welcome the opening of the 19th party congress. Seeking improvement in stability is the fundamental key and important principles for governance, also is the methodology of doing economic work well, so implementing the fundamental key is of special significance for next year.
The meeting indicates that, the economy in our country is facing difficulties and problems, although there are cyclical and aggregate factors, the root cause is major structural imbalance, which leads to poor economic circulation. So we must find method from structural reforms of the supply side, and try to achieve new dynamic equilibrium of supply and demand.
The meeting pointed out that this year with the five tasks of "cutting overcapacity, destocking, de-leveraging, lowering costs and improving weak links" , we have achieved initial results in boosting structural reforms in supply side, some industries’ supply and demand relationship, as well as the concept and behavior of government and enterprise have changed positively . Next year we will continue to deepen structural reform in supply side. One is deepening the task of "tcutting overcapacity, destocking, de-leveraging, lowering costs and improving weak links", second is pushing forward agricultural structural reform in supply side, three is the revitalization of the real economy, four is to make a stable and healthy development in real estate market . At the same time, we should continue to advance human-centered urbanization, promote the urbanization of rural migrant workers. We should thoroughly implement the overall strategy of regional development such as western development, the rising of northeast China and central China, as well as the policy of letting the eastern areas take the lead. We will continue to implement the three major strategies of the coordinated development of Beijing-Tianjin-Hebei region, the Yangtze river economic belt development, and "one belt, one road" development.
The meeting stressed that we should speed up the pace of reform in accordance with the requirements of overall development and making breakthroughs in the key problems; we should uphold the party's basic line, fully arouse the enthusiasm of every field, form a force to promote the development of science; we should implement the spirit of party's sixth plenary session of the eighteenth conference, and embodied the requirements of governing the party strictly into the party’s leadership on economic work.
