Experts shared insights into China's economic work next year in resonance with the annual Central Economic Work Conference held in Beijing from Wednesday to Thursday, in which the Chinese leadership laid out centerpiece of key economic tasks in 2025.
For next year, the meeting emphasized the need to maintain steady economic growth, keep employment and prices generally stable, ensure a basic equilibrium in the balance of payments, and increase residents' income in step with economic growth.
"Keeping resident income (growth) in sync with economic expansion means that ordinary people can enjoy the dividends of economic development," said Tian Xuan, the dean of the National Institute of Financial Research at Tsinghua University.
The meeting called for giving full play to the leading role of economic system reform and ensuring that landmark reform measures are effectively implemented.
Among the efforts, much attention will be given to the promulgation of a law on boosting private economy, the formulation of guidelines for building a unified national market, and the deepening of comprehensive reform of capital market investment and financing.
"These efforts are set to tackle worries for private companies, so that they can focus on development," said Dong Yu, the executive vice president of the China Institute for Development Planning at Tsinghua University.
The meeting said China should expand its high-standard opening up and keep foreign trade and foreign investment stable. Efforts should be made to introduce more autonomous and unilateral opening-up policies, and promote the development of trade in services, green trade and digital trade, according to the meeting.
"For example, we took the initiative to adjust export tax rebates. We also promoted the high-quality development of the Belt and Road Initiative and the Version 3.0 China-ASEAN Free Trade Area (FTA) upgrade negotiations," said Niu Li, the deputy director of the economic forecasting department at the State Information Center (SIC) under the National Development and Reform Commission (NDRC).
Experts share insights into centerpiece of China's key economic tasks in 2025
