In a significant move to steer the Chinese mainland’s economy toward robust growth, Xi Jinping, General Secretary of the Communist Party of China (CPC) Central Committee, has announced a target of approximately 5% GDP growth for 2024. This initiative was unveiled during a symposium held on July 26, where Xi emphasized the importance of achieving both economic and social development goals for the upcoming year.
The symposium, which included non-CPC personages, served as a platform to gather diverse opinions and suggestions regarding the current economic landscape and future strategies. Under Xi’s leadership, the CPC Central Committee focused on maintaining the general principle of pursuing progress while ensuring stability, a key approach to navigating the economic challenges ahead.
Despite facing certain difficulties inherent in the process of development and transformation, Xi expressed confidence in overcoming these obstacles. He highlighted the need to fully adopt the new development philosophy across all sectors, accelerate the construction of a new development pattern, and foster new quality productive forces tailored to local conditions. These measures are aimed at promoting high-quality development and sustaining the positive momentum of economic recovery.
Additionally, Xi stressed the importance of deepening reforms, strengthening macroeconomic regulation, and enhancing the vitality of market entities. Stabilizing market expectations and improving people’s livelihoods were also underscored as critical components of the economic strategy for the second half of the year.
Prominent members of the Standing Committee of the Political Bureau of the CPC Central Committee, including Li Qiang, Wang Huning, Cai Qi, and Ding Xuexiang, attended the symposium. Li provided a briefing on the economic performance in the first half of the year and outlined the considerations for the remaining months. Leaders from eight non-CPC parties, along with representatives from the All-China Federation of Industry and Commerce and other non-party-affiliated personages, contributed suggestions on topics such as comprehensive reform, high-level opening-up, strengthening the industrial and technological foundation, and bolstering confidence in the private economy.
The Chinese mainland has demonstrated a sustained recovery trend in the first half of 2024, achieving a 5% year-on-year GDP growth. Xi Jinping highlighted that the economy has made significant strides in high-quality development, despite the challenges faced. He called for a unified effort from non-CPC parties and personages to adopt the correct perspective on the current situation and collaboratively overcome various risks and challenges.
Looking ahead, Xi urged for thorough research on major reform measures proposed at the third plenary session of the 20th CPC Central Committee, addressing key issues in social and economic development, and preparing for the 15th Five-Year Plan (2026-2030). These initiatives are expected to provide valuable insights for the CPC Central Committee’s scientific decision-making process.
Reference(s):
cgtn.com
