Annual Conference of China’s Economy 2020-2021 held in Beijing

On December 19, 2020, the Annual Conference of China’s Economy 2020-2021 was hosted by the China Center for International Economic Exchanges(CCIEE) in Beijing. Under the theme of “Accelerating the Construction of a New Development Pattern”, the meeting focuses on studying and interpreting the spirit of the Central Economic Work Conference. The participants discussed issues such as “accelerating the implementation of innovation-driven development strategies to promote domestic circulation”, “actively expanding domestic demand to form a strong domestic market”, and “improving industrial and supply chain to smooth international and domestic dual cycles”. Zeng Peiyan, Chairman of CCIEE, attended the meeting, and Bi Jingquan, Executive Vice Chairman of CCIEE, chaired the meeting. More than 300 guests from relevant departments of the Party Central Committee and the State Council, experts, scholars, entrepreneurs and think-tank representatives attended the meeting.

Delegates at the conference believed that 2020 is the final year of building a well-off society in an all-round way and the beginning of the 13th Five-Year Plan. It is also an extraordinary year in the history of China. Faced with complex international situations, especially the severe impact of the COVID-19 pandemic, China remains to be the only major economy in the world to achieve positive growth this year. Significant progress has been made in technological innovation, reform and opening-up. Participants said that 2021 is the first year of the “14th Five-Year Plan” and a year of special importance in the process of China’s modernization. We must adhere to the new development concept and accelerate the construction of a new development pattern. We must focus on promoting high-quality development, continue supply-side structural reforms, pay attention to demand-side management, abolish barriers to form a high-level dynamic balance between supply and demand. Moreover, we need to enhance the effectiveness of the national economic system, consolidate the results of pandemic prevention and control, and coordinate development and security.

Next year, the macro policy should maintain its sustainability. Wes should continue to implement a proactive fiscal policy and a prudent monetary policy to support economic recovery. We should have more accurate policy implementation and make good use of the precious time window to advance reform and innovation, as well as laying a solid foundation for the “14th Five-Year Plan” with high-quality development.

Next year, we will strengthen our strategic scientific and technological capabilities, have better control of the industrial and supply chain, expand domestic demand, promote reform and opening up, solve the problem relating to seeds and arable land, strengthen anti-monopoly and prevent the disorderly expansion of capital. Furthermore, we should solve the outstanding problems of housing in big cities and do a good job in carbon neutrality.

At the meeting, leaders and experts from the Office of the Central Finance and Economic Commission, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Commerce, the Ministry of Science and Technology, the Chinese Academy of Sciences, and well-known entrepreneurs interpreted the spirit of the Central Economic Work Conference.