The Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on July 30, making a decision that the fifth plenary session of the 20th CPC Central Committee will be held in Beijing in October. According to the main agenda of the session, the Political Bureau will report its work to the CPC Central Committee, and the session will study major issues on perseveringly advancing the Party's full and rigorous self-governance.
The Political Bureau meeting also analyzed and studied the current economic situation and made arrangements for economic work in the second half of this year. Xi Jinping, general secretary of the CPC Central Committee, chaired the meeting.
It was underlined at the meeting that since the 18th CPC National Congress, the Party's full and rigorous self-governance has made significant progress, opened up a new frontier for the century-old Party in self-reform, and realized historic achievements and transformations in the cause of the Party and the country. The Party and the people have won the historical initiative to build a strong Party and country. Meantime, as profound changes have taken place in the international and domestic circumstances and the conditions the Party faces, the Party's full and rigorous self-governance is facing new contexts and challenges.
The whole Party must, from a strategic perspective of consolidating its position as the governing body and accomplishing its mission and tasks, fully recognize the significance of unswervingly advancing full and rigorous Party self-governance, and maintain confidence and resolve. The Party members should adopt higher standards and take more concrete measures to adhere to and make good use of the valuable experiences of full and rigorous Party self-governance in the new era, satisfactorily address and solve the prominent issues facing Party building, and consolidate and build on the sound political environment fostered through the Party's self-governance.
The meeting emphasized that in order to persevere with full and rigorous self-governance, the Party must remain committed to Marxism-Leninism, Mao Zedong Thought, Deng Xiaoping Theory, the Theory of Three Represents, and the Scientific Outlook on Development, and fully carry out Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. At the same time, it is imperative to thoroughly study and apply Xi Jinping Thought on Party Building, implement the overall requirements for strengthening the Party in the new era, and take the Party Constitution as the fundamental guide.
The Party has been urged to uphold and strengthen the centralized, unified leadership of the CPC Central Committee, with a view to improving the Party's long-term governance capability, preserving its advanced nature and integrity, and maintaining close bonds with the people. It is important to hold on to strictness with principles, improve the systems for full and rigorous Party self-governance, and set strengthening political construction as the overarching guide for all other initiatives of Party building. The entire Party's motivation, initiative, and creativity should be fully inspired, and efforts for the Party to purify, improve, renew, and excel itself be continuously advanced. It must be ensured that the Party always remains a vibrant Marxist governing party which stays at the forefront of the times, enjoys the wholehearted support of the people, and is capable of withstanding the tests of any storms, and that it always acts as the strong leadership core in building socialism with Chinese characteristics.
Since the beginning of the year, the Party Central Committee with Comrade Xi Jinping at its core has united and led the entire Party and the Chinese people of all ethnic groups in forging ahead with determination and working tirelessly, the meeting pointed out. By giving full consideration to both domestic and international imperatives, as well as to development and security, it has responded effectively to external shocks and internal difficulties. As a result, China's economy has shown a development trend marked by new growth drivers and an optimized economic structure.
At the same time, it is a must to pay high attention to the difficulties and challenges facing the economic development, remain confident and confront challenges head-on, and make full use of all opportunities and advantages to ensure steady and sustained progress in high-quality development.
It is stressed at the meeting that the economic work for the second half of the year should follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, adhere to the general principle of pursuing progress while ensuring stability, fully and faithfully apply the new development philosophy on all fronts, and move faster to foster a new pattern of development. It is necessary to better balance both domestic and international imperatives, coordinate development with security, deepen reform and opening up, and speed up the transition to new growth drivers. A more proactive fiscal policy and an appropriately accommodative monetary policy should be well implemented, the efficiency of existing policies be fully activated, and practical and targeted reinforcing measures be formulated and rolled out in a timely manner. It is also essential to strengthen counter-cyclical adjustments, further boost domestic demand and optimize supply, and effectively ensure and improve the people's wellbeing. Development momentum must be strengthened and social vitality invigorated. These efforts will steer the economy toward continued innovation, optimization, and sound growth, laying a solid foundation for the 15th Five-Year Plan period (2026-2030).
The meeting also pushed for strengthened and more effective macro policies, accelerated disbursement of fiscal funds and bonds proceeds, and solid progress in implementing major national strategies and building security capacity in key areas, as well as in promoting large-scale equipment renewals and trade-ins of consumer goods. It is also necessary to firmly secure basic livelihood needs, salaries, and government operations at the community level. A comprehensive set of monetary policy tools should be deployed and adjusted as needed, and coordinated fiscal and financial policies aimed at boosting domestic demand should be optimized.
The meeting underscored the need to effectively expand domestic demand, increase the supply of quality goods and services in response to the consumption needs of different groups, and tap the potential of services consumption. It called for solid progress in the planning and development of the "Six Networks" of water conservancy, new power grids, computing infrastructure, next-generation telecommunications, urban underground utilities, and logistics. Efforts should be made to accelerate the building of a modern industrial system, strengthen long-term and stable support for basic research, further implement the "AI Plus" initiative, foster new forms of the intelligent economy, and improve the AI governance system. Active moves were also urged to achieve breakthroughs in frontier technologies and advance the development of future industries, with a focus on building emerging pillar industries and continuously promoting the transformation and upgrading of traditional industries.
It is also necessary to foster a fair and orderly market competition environment, formulate and implement regulations on building a unified national market, continue comprehensive efforts to address "involution-style" competition, and establish regular mechanisms to resolve payment arrears owed to enterprises. It also called for deepening the reform of state-owned assets and enterprises, improving the environment for the development of the private sector, and promoting regulated and sound development of the platform economy.
The country should also expand the space for mutually beneficial international economic and trade cooperation, vigorously develop trade in services, and promote balanced trade development. The management system for outbound investment and the comprehensive overseas service system should be improved, and efforts should continue to actively attract and utilize foreign investment.
Endeavors related to agriculture, rural areas and rural people must not be relaxed, the meeting stressed. It called for continued efforts to consolidate and expand the fruits gained in poverty alleviation, establish and improve mechanisms for the construction, operation, management and maintenance of high-standard farmlands, stabilize the production and prices of livestock and agricultural products such as pork, and promote steady increases in farmers' incomes. It also urged efforts to ensure the provision of agricultural supplies at stable prices, advance agricultural production, and secure bumper harvests of autumn grain and grain output for the whole year.
The meeting pointed out that multiple measures should be adopted to enhance the people's wellbeing, provide stronger support for employment of key groups, and safeguard the interests of people doing flexible jobs and of others in new forms of employment. Support for elderly-care and infant-care services should be guaranteed while multi-tiered and categorized social assistance systems be improved. Northwest, North and Northeast China should win tough battles ahead in ecological projects for desertification prevention and control, and active and steady advancement be made in the country's carbon peaking and carbon neutrality.
It was stressed at the meeting that solid security barriers must be effectively built. While stabilizing the real-estate market, it is necessary to roll out a package of measures to forestall and defuse debt risks, steadily advance reform-driven risk mitigation, downsizing and quality upgrading of local small- and medium-sized financial institutions. The comprehensive reform of the investment-and-financing circulation mechanisms will be deepened, the resilience of the capital market strengthened, and market confidence boosted.
The country will further identify and rectify all kinds of risks and hidden dangers, resolutely curbing the occurrence of major and extremely serious accidents. Localities should enhance the rectification and remediation of problematic and danger-posing reservoirs, river embankments and dykes, flash-flood and geological hazard-prone areas, and urban low-lying locations vulnerable to waterlogging. They should also solidly advance all kinds of work related to emergency response, rescue and disaster relief for flood prevention and control, and go all out to safeguard people's lives and property.
Officials should consolidate and expand their endeavors in establishing and practicing a correct view of governance performance, it was also noted at the meeting. Leading officials at all levels should make new achievements in high-quality development with high spirit, robust energy and uplifting morale.
Other matters were also discussed at the meeting.
Editor: Lucy Jiang
