China Charts Course for Continued Economic Stability, Growth, and Reform in 2025

Stability, Growth, and Continued Reform

The Political Bureau of the Communist Party of China (CPC) Central Committee convened on Monday to analyze and plan for the nation's economic trajectory in 2025. The meeting, chaired by General Secretary Xi Jinping, acknowledged the crucial role of 2025 in achieving the goals outlined in the 14th Five-Year Plan (2021-2025).

The meeting highlighted the generally stable economic performance in 2024, with progress made across various sectors. China's economic strength, scientific and technological capabilities, and overall national strength have continued to improve. The meeting also expressed confidence in successfully accomplishing the main goals and tasks for economic and social development in 2024.

Looking ahead to 2025, the meeting emphasized the need for proactive and impactful macro policies to ensure sound economic performance. This includes implementing a more proactive fiscal policy and a moderately loose monetary policy. The meeting also called for enriching and improving the policy toolkit, strengthening unconventional counter-cyclical adjustments, and intensifying the coordination of various policies.

Boosting consumption, improving investment efficiency, and expanding domestic demand on all fronts were identified as key priorities. The meeting also stressed the importance of fostering new quality productive forces driven by scientific and technological innovation, developing a modernized industrial system, and giving play to the leading role of economic system reform.

Expanding high-standard opening up, stabilizing foreign trade and investment, and effectively preventing and defusing risks in key sectors were also highlighted as crucial for ensuring no systemic risks arise. Additionally, the meeting emphasized promoting the integrated development of urban and rural areas, advancing major regional development strategies, accelerating the green transition in all fields of economic and social development, and increasing efforts to safeguard and improve people's livelihood.

The meeting reaffirmed the importance of strengthening the Party's leadership over the economic work to ensure the faithful execution of the CPC Central Committee's decisions and arrangements. It also discussed plans to improve Party conduct and fight corruption, emphasizing the need for disciplinary inspection and supervision bodies to maintain a tough stance against corruption.

The meeting concluded with the decision to hold the fourth plenary session of the 20th CCDI from January 6 to 8, 2025. This session will further discuss and refine the plans for economic development and anti-corruption efforts in the coming year.