Central Economic Work Conference: Do a good job in carbon peak and carbon neutrality, and promote coal consumption to peak as soon as possible. 21 Dec 2020

Central Economic Work Conference held in Beijing

Important speech by Xi Jinping and Li Keqiang

Li Zhanshu, Wang Yang, Wang Huning, Zhao Leji, Han Zheng attended the meeting


The Central Economic Work Conference was held in Beijing from December 16th to 18th. Jinping Xi, General Secretary of the CPC Central Committee, President of the State, and Chairman of the Central Military Commission. Keqiang Li, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council. Zhanshu Li, Wang Yang, Huning Wang, Leji Zhao and Zheng Han, members of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting.


Jinping Xi delivered an important speech at the meeting. Summarize the economic work in 2020. Analyze the current economic situation. Deploy economic work in 2021. In his speech, Keqiang Li made specific arrangements for economic work next year and made a concluding speech.


The meeting held that this year is an extraordinary year in the history of New China. Facing the severe and complex international situation, the arduous and onerous domestic reform, development and stability tasks, especially the severe impact of the new crown pneumonia epidemic. We maintain strategic determination, accurately judge the situation, carefully plan and deploy, act decisively, and make hard work. Handed over an answer sheet that is satisfied with the people and attracted worldwide attention and can be recorded in the annals of history. my country has become the only major economy in the world that has achieved positive economic growth. The three major battles have made decisive achievements. Significant progress has been made in scientific and technological innovation, major breakthroughs have been achieved in reform and opening up, and people's livelihood has been effectively guaranteed. These achievements were hard-won and have gone through difficulties and obstacles. It is the result of the strong leadership of the Party Central Committee with Comrade Jinping Xi at the core. It is the result of the united struggle of the whole party, the whole army and the people of all ethnic groups throughout the country.


The meeting pointed out that this year is the end of the 13th Five-Year Plan. After five years of continuous struggle, my country's economic and social development has achieved new historic achievements. The main objectives and tasks of the 13th Five-Year Plan are about to be completed. my country's economic strength, scientific and technological strength, comprehensive national strength and people's living standards have jumped to a new level. The victory of building a well-off society in all respects is in sight. The great rejuvenation of the Chinese nation has taken a new step forward.


The meeting emphasized that in the practice of coordinating the overall domestic and international situations, coordinating epidemic prevention and control, and economic and social development. We have deepened our understanding of the regularity of doing economic work well under severe challenges: The authority of the Party Central Committee is the fundamental support for the entire party and the people of all ethnic groups in the country to rise to difficulties in times of crisis. At major historical junctures and major tests. The judgment, decision-making and action of the Party Central Committee are decisive.


The supremacy of the people is the fundamental prerequisite for making correct choices. As long as the people are always pretended to be in their hearts and the interests of the people are always put in the highest position, they will definitely be able to make correct decisions. Determine the optimal path. And rely on the people to overcome all difficulties and obstacles.


The advantage of the system is the fundamental guarantee for the formation of the strength to overcome the majestic difficulties. As long as the "four self-confidences" are strengthened and the system advantages of concentrating efforts on major tasks are maintained, the entire party and the people of all ethnic groups in the country will be able to unite closely. So as to give play to the powerful energy to overcome difficulties and promote the development of the cause.


Scientific decision-making and creative response are the fundamental methods to turn crises into opportunities. As long as we accurately recognize changes, respond scientifically, and actively seek changes. It must be able to create big opportunities in the fight against big risks.


Self-reliance and self-reliance of science and technology is the fundamental support for the overall development of development. Just uphold the scientific spirit, grasp the scientific laws, and vigorously promote independent innovation. It will definitely be able to build the country's development on a safer and more reliable foundation.


The meeting pointed out that while affirming achievements, we must be sober. There are many uncertainties in the changes in the epidemic and the external environment, and the foundation of my country's economic recovery is not yet solid. The world economic situation next year will remain complex and severe, and the recovery will be unstable and uneven. The various derivative risks caused by the impact of the epidemic cannot be ignored. It is necessary to enhance the awareness of distress, strengthen confidence in victory, and promote sustained economic recovery and high-quality development. We must manage our own affairs well, stick to the bottom line thinking, improve the ability to predict and predict risks, and strictly guard against various risks and challenges. We must continue to hold high the banner of multilateralism, actively participate in the reform and improvement of global governance, and promote the building of a community with a shared future for mankind.


The meeting emphasized that next year will be a year of special importance in the process of my country's modernization drive. Do a good job in economic work next year. It must be guided by Xi Jinping's Thought on Socialism with Chinese Characteristics for a New Era. Fully implement the spirit of the 19th National Congress of the Party and the Second, Third, Fourth and Fifth Plenary Sessions of the 19th Central Committee. Adhere to the general tone of the work of seeking progress while stability. Based on the new development stage, implement the new development concept and build a new development pattern. With the theme of promoting high-quality development. To deepen the supply-side structural reform as the main line. Take reform and innovation as the fundamental driving force. To meet the people's growing needs for a better life is the fundamental goal. Adhere to the system concept, consolidate and expand the results of epidemic prevention and control and economic and social development. Better coordinate development and safety. Do a solid job of the "six stability" and fully implement the "six guarantees" task. Scientific and precise implementation of macro policies. Strive to keep the economy operating within a reasonable range. Adhere to the strategy of expanding domestic demand. Strengthen scientific and technological strategic support. Expand high-level opening up. Ensure that the "14th Five-Year Plan" starts well. Celebrate the 100th anniversary of the founding of the party with outstanding achievements.


The meeting pointed out that next year's macro policy should maintain continuity, stability and sustainability. We must continue to implement a proactive fiscal policy and a prudent monetary policy. Maintain the necessary support for economic recovery. Policy operations must be more precise and effective, without making a sharp turn, and grasp the timeliness and effectiveness of policies. It is necessary to make good use of the precious time window and concentrate on promoting reform and innovation. Make a good start for the "14th Five-Year Plan" with high-quality development. A proactive fiscal policy must improve quality and efficiency and be more sustainable. Maintain a moderate expenditure intensity and strengthen the financial guarantee for major national strategic tasks. Take the initiative in promoting technological innovation, accelerating economic restructuring, and adjusting income distribution. Work hard to resolve hidden debt risks of local governments. Party and government agencies must persist in living a tight life. A prudent monetary policy must be flexible, precise, reasonable and appropriate. The growth rate of the money supply and the scale of social financing should be kept in line with the nominal economic growth rate. Keep the macro leverage ratio basically stable. Deal with the relationship between economic recovery and risk prevention. Replenish bank capital through multiple channels and improve the legal system of the bond market. Increase financial support for technological innovation, small and micro enterprises, and green development. Deepen the reform of interest rate and exchange rate marketization. Maintain the basic stability of the RMB exchange rate at a reasonable and equilibrium level.


The meeting called for a good first step to build a new development pattern next year and see the new outlook. Accelerate the construction of a new development pattern in which the domestic big cycle is the main body and the domestic and international double cycles promote each other. The main thread of supply-side structural reform must be tightly twisted. Pay attention to demand-side management, break through blocking points, and make up for shortcomings. Through production, distribution, circulation, and consumption. Form a higher level of dynamic balance in which demand drives supply and supply creates demand. Improve the overall effectiveness of the national economic system. More attention should be paid to deepening reform and opening up and strengthening the endogenous driving force for development. At some key points, the force is effective, and it has the effect of pulling the whole body.


The meeting determined that the following key tasks will be grasped next year.

  • One is to strengthen the national strategic scientific and technological strength. 


  • The second is to enhance the independent controllability of the industrial supply chain.

  • The third is to adhere to the strategic basis of expanding domestic demand.

  • The fourth is to comprehensively promote reform and opening up.

  • The fifth is to solve the problems of seeds and arable land.

  • The sixth is to strengthen anti-monopoly and prevent the disorderly expansion of capital.

  • Seven is to solve the outstanding problems of housing in big cities.

  • Eighth, do a good job in carbon peaking and carbon neutrality.

It was pointed out at the meeting that after several generations, people have worked consistently and continuously. my country is about to build a well-off society in an all-round way. This is the starting point for a new struggle in a new life, and we must continue to work hard. We must consolidate and expand the results of poverty alleviation. Resolutely prevent large-scale return to poverty. It is necessary to effectively connect with rural revitalization. The assistance policies remain generally stable, and the classification adjustments are optimized to keep sufficient time for the policy transition period.