CHINA-LEADERSHIP: XI JINPING PRESIDES OVER POLITBURO MEETING TO DISCUSS ANNUAL ECONOMIC PLAN

Xi Jinping presided over a Politburo meeting on analysing the current economic situation and making a plan for economic work in the second half of the year. The Politburo conveyed that “in the first half of the year, economic operations continued to be stable overall and to make progress” and “major macroeconomic indicators stayed within a reasonable range.” However, it stressed that “[we] must strengthen [our] awareness of dangers, grasp general long-term trends and major contradictions, be adept at turning crises into opportunities, and handle our own affairs well” as “China’s economic development is facing new risks and challenges and the domestic economy is under increasing downward pressure.” The Politburo called for “closely focusing on the eight-character guideline of ‘consolidating, reinforcing, enhancing, and smoothing’ (“巩固、增强、提升、畅通”八字方针), deepening supply-side structural reform, and upgrading the capabilities of the industrial base and the quality of supply chains.” It advocated “comprehensively doing ‘six stabilities’ work (“六稳”工作) well” to “effectively respond to trade frictions,” supported “increasing external openness and speeding up the implementation of a series of opening measures,” and vowed to “not view real estate as a short-term measure for stimulating the economy” and to “consolidate and expand the achievements of poverty alleviation.” People’s Daily commentaries on July 31 and August 1 and 2 publicized and explained the meeting’s conclusions on economic work.





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