This week's Central Economic Work Conference has ignited discussions among Chinese officials who said they will faithfully implement the outcomes from the meeting and achieve economic and social goals set for the next year.
The annual conference was held in Beijing on Wednesday and Thursday as Chinese leaders outlined their priorities for the economy in 2025.
During the conference, Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, Chinese president and chairman of the Central Military Commission, delivered a crucial speech. His address encompassed a comprehensive review of the country's economic endeavors in 2024, an analysis of the current economic landscape, and strategic directives for the economic agenda in the forthcoming year.
Outlining a number of key tasks for 2025, the meeting urged efforts to vigorously boost consumption, improve investment efficiency, and expand domestic demand on all fronts.
"During his speech, the General Secretary emphasized various aspects of commerce work. For example, boosting consumption, ensuring foreign investment stability, and stabilizing foreign trade. The Ministry of Commerce will diligently implement these points in line with the General Secretary's directives with relentless perseverance. We must view expanding consumption as a cornerstone for next year's economic growth. Through increased openness, we aim to foster growth in service trade to secure foreign investment. I am confident that through these efforts, we are confident about next year's overall economic work, especially in the field of commerce," said Wang Wentao, Minister of Commerce.
Building upon those directives of the meeting, officials reiterated their commitment to advancing high-quality development in the upcoming year, with a focused effort on delivering concrete benefits to the public and driving sustainable economic progress.
"Next year is the last year of the 14th Five-Year Plan period. We will follow our General Secretary's guidance of enhancing the functions of political, cultural, international exchange and sci-tech innovation centers, advance the coordinated development of the Beijing-Tianjin-Hebei region, and vigorously promote integration of sci-tech innovation and industrial innovation in order to become a key engine for developing new quality productivity. Regarding economic structural reform as the spearhead, we will strive to enhance internal driving force for high-quality development. We will meticulously and diligently improve fine and targeted urban governance to ensure development results can better benefit the public in a broader way," said Yin Yong, mayor of Beijing Municipality.
"We will surely align our thoughts and actions with General Secretary Xi and Central Committee's scientific judgment and strategic directives regarding the economic situation, firmly shoulder the responsibility of being a major economic province and faithfully implement the 'Double Eight Strategy'. With high-quality development as the top priority, reform and innovation as the fundamental driving forces, and meeting the people's needs for a better life as the fundamental goal, we will make more contributions to our country," said Wang Hao, secretary of the provincial Party Committee of Zhejiang Province.
The "Double Eight Strategy" identifies eight strengths that President Xi drew up for Zhejiang. These are economic structure, geological position, industries, coordinated development of urban and rural areas, ecology, mountain and ocean resources, the environment, and culture.
Chinese officials ambitious to implement outcomes of Central Economic Work Conference
