The Annual Meeting of China’s Economy (2019-2020) Held in Beijing

On December 14, 2019, the Annual Meeting of China’s Economy (2019-2020) was hosted by China Center for International Economic Exchanges in Beijing under the theme of “Maintaining Stable and Healthy Economic Development and Achieving a Well-off Society in an All-round Way”. The Participants of the meeting interpreted the latest Central Economic Working Conference and discussed such issues as deepening the supply-side structural reform, ensuring economic stability and progress, accelerating the implementation of regional development strategies, constructing new sources of high-quality development, and promoting innovation-driven development.

Wei Liqun, Executive Vice Chairman of CCIEE, chaired the meeting. Zeng Peiyan, Chairman of CCIEE, attended the meeting. More than 300 representatives from relevant departments of the CPC Central Committee and the State Council, leaders of provinces and cities, experts and scholars as well as entrepreneurs were also present at the meeting.

The participants believe that despite the complex situations and challenges facing China, the decisions and deployment made by the CPC Central Committee have been implemented well. All the departments followed the principle of maintaining stability while seeking steady progress, and focused on supply-side structural reforms to promote high-quality economic development. Great progress has been made in 2019: macro-control goals have been achieved, key progress has been made in the three major battles, important steps have been taken in reform and opening up, supply-side structural reforms continued to deepen, breakthroughs were made in scientific and technological innovation, the Chinese people obtained a better sense of security and satisfaction, and the economy maintained sustainable and healthy development and social harmony.

At present, China is in the phase of transforming its development mode, optimizing the economic structure, and changing the economic driving force. Moreover, the downward pressure on the economy is increasing. The world economic growth continues to slow down and is still in the period of deep adjustment after the international financial crisis. Furthermore, the world economy is likely to experience more turbulence and will face more risks. However, China managed to maintain economic stability and improvement.

Next year will be the last year of the Thirteenth Five-Year Plan. In order to achieve the first hundred-year goal, China will continue to strive for economic stability. We should act in accordance with the spirit of the Central Economic Working Conference, implement the concept of new development and improve people’s livelihood, especially poor people. Apart from that, we will continue to implement proactive fiscal policy and stable monetary policy, promote high-quality development, form a sound regional economic plan, vigorously implement innovation-driven development, deepen economic reform, and promote a higher level of opening-up.

The meeting emphasized the need to fully implement the spirit of the Fourth Plenary Session of the 19th CPC Central Committee and the deployment of the Central Economic Working Conference. Moreover, we should continue to promote high-quality development and supply-side structural reform, expand high-level opening up, seize the opportunity and make every effort to ensure the successful completion of building a well-off society and the 13th Five-Year Plan.

Leaders and experts from the Central Finance and Economic Office, the National Development and Reform Commission, the Ministry of Commerce, the People’s Bank of China, Henan Province and Shenzhen attended the meeting and interpreted the spirit of the Central Economic Working Conference.