BEIJING, Dec 13 (Alliance News): The Communist Party of China’s Central Economic Work Conference, held in Beijing, brought forward a comprehensive strategy for the nation’s economic growth and opening-up for the year 2024 and beyond.
Chinese President Xi Jinping attended the meeting and delivered a keynote address emphasizing China’s resilient economic performance amidst a challenging global landscape.
President Xi’s speech outlined that despite the complexities of external factors, China’s economy had managed to sustain stable growth in 2024.
The country’s overall economic operations have remained steady, driving significant high-quality development across various sectors.
He noted that the country is on track to meet all major economic and social development goals for the year by the end of December.
The President reaffirmed that China’s economy has strong underlying foundations, showcasing its resilience, ample advantages, and vast potential. He further assured that the long-term upward trend of the economy is poised to continue.
One of the major takeaways from the meeting was China’s strong commitment to further opening up its economy.
The conference set the stage for China to accelerate the liberalization of key service industries, particularly focusing on the telecommunications, medical care, and education sectors.
This would be achieved by expanding the liberalization and unilateral opening processes, along with continuing institutional reforms.
The attendees of the meeting emphasized the importance of elevating the quality and operational efficiency of the pilot free trade zones, aiming to enhance their contribution to China’s broader economic strategies.
The discussion also highlighted plans for expanding and reforming the regulatory frameworks necessary to further promote foreign investment and modernize the foreign trade mechanism.
Additionally, President Xi underscored the urgency of promoting green and digital trade as part of China’s ongoing reform agenda.
The government’s goal is to encourage growth in these progressive sectors as the country aligns itself with the international trend toward more sustainable and technologically advanced commerce.
Furthermore, the meeting placed a heavy focus on deepening China’s Belt and Road Initiative, especially through the joint construction of high-quality projects under this framework.
Strengthening the international infrastructure initiative remains central to China’s economic diplomacy and long-term development plans.
The initiative’s primary aim is to improve China’s global trade and investment links while also enhancing China’s comprehensive overseas service system.
In his speech, President Xi emphasized that China’s fiscal policy for 2025 will be proactive. In line with the country’s objective to sustain high-quality economic development, the government plans to implement targeted fiscal measures that can drive further improvements in the economy. This would include policies designed to stimulate both domestic and foreign investments.
The ambitious proposals discussed during the Central Economic Work Conference signal China’s determination to continue its growth trajectory and solidify its position as a global economic powerhouse.
With increased focus on reforming key sectors and enhancing China’s international engagement, the country is gearing up for a more open, sustainable, and innovation-driven future.
