Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, on Friday presided over a meeting of the Political Bureau of the CPC Central Committee to analyze the current economic situation and economic work.

 

The meeting also reviewed a plan for talent development during the 14th Five-Year Plan period (2021-2025).

 

The meeting highlighted the hard-won achievements since the beginning of this year in coordinating epidemic control with economic and social development, as China secured a stable economic performance and successfully hosted the Beijing 2022 Olympic Winter Games and the Beijing 2022 Paralympic Winter Games.

 

Noting that the economy faces growing complexities and uncertainties, the meeting stressed the importance of economic stability and ensuring and improving people's livelihoods.

 

The meeting called for upholding the "people first, lives first" principle and the dynamic zero-COVID approach to protect people's lives and health, and minimize the impact of the epidemic on economic and social development.

 

China should step up macro policy adjustment and work hard to achieve annual economic and social development goals, and keep the economy running within a reasonable range, according to the meeting.

 

The meeting called for faster implementation of policies that have already been formulated, noting that various monetary tools should be well utilized. All-out efforts should be made to expand domestic demand, give full play to effective investment, reinforce infrastructure construction and let consumption facilitate economic circulation.

 

A raft of policies should be rolled out to help micro, small and medium-sized companies and individually-owned businesses tide over difficulties, while keeping the supply and prices of energy and resources stable and ensuring spring farming.

 

On improving people's livelihood, the country should stabilize and expand employment and ensure the operation of core functions of cities. Smooth logistics nationwide must be ensured, while key industrial and supply chains, key infrastructure facilities as well as designated firms responsible for market supply during the epidemic should maintain normal operation.

 

The meeting stressed efforts to ensure that no systemic risks emerge and reiterated the principle that "housing is for living in, not for speculation." Efforts should be made to better real estate policies based on local realities and meet demand for rigid housing and better housing.

 

On the capital market, the meeting said China's registration-based initial public offering system should be promoted steadily, long-term investors should be attracted and stable market operation should be maintained.

 

Specific measures should be rolled out to support the standardized and healthy development of the platform economy, it said.

 

The meeting also stressed deepening the supply-side structural reform, and building a strong and resilient national economic circulation system.

 

Efforts should be made to expand high-level opening-up, said the meeting, adding that demands from foreign enterprises for a convenient business environment should be given proactive responses, in a bid to stabilize foreign trade and investment fundamentals.

 

In terms of the plan for talent development, the meeting called for comprehensive efforts to cultivate and attract talent, and bring their potential into full play.

 

The meeting called for accelerating the building of world-class hubs for talent and innovation, with Beijing, Shanghai and the Guangdong-Hong Kong-Macao Greater Bay Area serving as demonstration areas.

 

Calling for more efforts to foster scientists with strategic value and give full play to their roles, the meeting stressed nurturing leading talent and innovation teams in science and technology, as well as a large number of outstanding engineers.