Annual Meeting of China’s Economy (2016-2017)：Advance Stably and Far with Focus on Reform

On 17 December 2016, CCIEE and the National High - end Think Tank of Xinhua News Agency jointly organized the Annual Meeting of China’s Economy (2016-2017) in Beijing. This year’s meeting had the theme of “Along the main line, focusing on tackling crucial problems and seeking improvement and excellence in stability”. It studied and interpreted the spirit of the Central Economic Work Conference. All the participants made in-depth and lively discussion focusing on deepening supply side structural reform to complete the five tasks of de-capacity, destocking, deleveraging, cost reduction and improving weak links and at the same time on playing the leading role of reform and opening up and innovation to foster and to enhance the new growth momentum. The meeting was chaired by Mr.Wei Liqun, Executive Vice Chairman of CCIEE. Mr. Zhu Zhixin, Vice Chairman of CCIEE and Mr. Zhou Shunchun, Vice President of Xinhua News Agency addressed it respectively. Mr. Zeng Peiyan, Chairman of CCIEE was present. About 300 representatives including leaders from relevant government agencies, experts and scholars, entrepreneurs and think tank delegates were present.

The meeting held that, under the leadership of the CPC Central Committee and the State Council, over the past year, China's economy had been advancing steady and for better. We saw that quality and efficiency were improved, economic structure continued to be optimized, the supporting role of innovation to development was enhanced, reform and opening up got a new breakthrough, and the supply side structural reform began to take effect. In the meantime, China's economic operation is still facing many challenges at home and abroad at present; for example foreign trade and foreign investment encountered the challenge of slowed down global trade growth and “inverse globalization”, structural challenges and cyclical problems in the process of economic development were still intertwined, the contradiction between overcapacity and upgrading of demand structure was still outstanding, internal impetus driving economic growth still remained insufficient, and financial risk was accumulating in some areas, and etc.. Based on this new economic situation, how to effectively overcome the difficulties and obstacles in economic development so as to emancipate and promote the development of productive forces and to maintain sustained and healthy economic development has become the whole country's common concerns.

The meeting believed that the newly held central economic work conference made in-depth analysis of the current international and domestic economic situation, clarified the guiding ideology of economic work and deployed next year’s economic work. The year of 2017 is committed to deepen the supply side structural reform. We must adhere to the overall tone of seeking progress in stability and to make development quality and efficiency improvement as the center, and to put prevention and control of financial risks into a more important position. We must better play the traction role of reform and deeply promote the policy of “three eliminations, one reduction and one subsidy” and agricultural supply side structural reform. We must focus on the real economy revitalization and make research of establishing long-term real estate market stable and healthy development mechanism in line with national conditions and market rules. We must deepen the reform of state-owned enterprises and assets, strengthen the property rights protection, and steadily promote fiscal and taxation and financial system reform. We must further implement the innovation-driven development strategy to promote the development and expansion of new momentum, making the traditional growth dynamics revitalize. We must strive to make China's economy develop stable for better.