Promote stable and far-reaching high-quality development

The Political Bureau meeting of the Central Committee of the Communist Party of China held on July 30th comprehensively deployed the economic work for the second half of the year, clarifying the need to promote the sustained development of the economy towards new and better directions, and strive to achieve a good start to the 15th Five Year Plan. To do a good job in the economic work of the second half of the year, we must thoroughly implement the decisions and deployments of the Party Central Committee, increase efforts to counter cyclical adjustments, fully leverage the effectiveness of various existing policies, timely plan for practical and effective incremental policies, enhance development momentum, and stimulate social vitality.

Actively taking action, macroeconomic policies should be strengthened to improve efficiency. Continue to implement a more proactive fiscal policy and a moderately loose monetary policy. In the first half of this year, the daily average amount of funds in the national treasury was relatively large, reflecting that there were more available funds in the government. We need to accelerate the progress of fiscal expenditure and the use of bond funds, and form physical workloads as soon as possible. Strengthen the monitoring of fiscal operations and the allocation of funds, and secure the bottom line of the "three guarantees" at the grassroots level. We should comprehensively utilize and adjust monetary policy tools in a timely manner, maintain sufficient liquidity, smooth the transmission mechanism of monetary policy, and promote the low operation of social financing costs. Implement structural monetary policy tools effectively, and strengthen support for key areas such as expanding domestic demand, technological innovation, and small and medium-sized enterprises. Optimize the implementation of fiscal and financial policies to promote domestic demand, and form a transmission chain of fiscal guidance, financial amplification, and market operation. Strengthen the consistency evaluation of macro policy orientation, and allow for a reasonable transition period for major policy adjustments involving enterprise production and operation.

Continuously exert efforts to effectively expand domestic demand. Some areas of commodity consumption in our country have reached saturation or entered a stage of plateau. We need to adapt to the consumption needs of different groups, expand high-quality supply, and actively cultivate and strengthen emerging consumption. Service consumption is a key area for expanding consumption in the future. We need to innovate consumption scenarios, optimize the consumption environment, and tap into the potential of service consumption. Fixed assets investment fell by 5.7% in the first half of this year, and we should promote investment to stop falling and stabilize. Coordinate projects and funds, and solidly promote the construction of the "Six Networks" plan. We need to strengthen the guarantee of essential factors, seize the window period of the peak construction season in the third quarter, and accelerate the approval and construction of major projects that have been determined in the "15th Five Year Plan". This year, 800 billion yuan of new policy financial instrument funds have been arranged, mainly used to supplement the capital of major projects. We need to quickly invest funds in specific projects and leverage more private investment.

Innovation leads and accelerates the construction of a modern industrial system. Basic research is the source of the entire scientific system and the overall mechanism for all technical issues. We need to increase long-term stable support for basic research, enhance the systematic research and development capabilities of scientific and technological innovation, and promote the deep integration of scientific and technological innovation and industrial innovation. Deepen the implementation of the "Artificial Intelligence+" action, create a new form of intelligent economy, promote the empowerment of thousands of industries with artificial intelligence technology, improve the governance system of artificial intelligence, and accelerate the basic legislative process of artificial intelligence. Since the beginning of this year, the demand for artificial intelligence computing power has grown rapidly, driving the accelerated development of the semiconductor industry. We should not only strengthen the supply of advanced computing power, but also avoid rushing forward. Actively promote breakthroughs in cutting-edge technologies and future industrial development, focus on building emerging pillar industries, and continue to promote the transformation and upgrading of traditional industries.

Facing contradictions and creating a fair and orderly market competition environment. Formulate and implement regulations for the construction of a unified national market. Standardizing local investment promotion and corporate competition behavior requires both negative and positive lists. Continue to comprehensively rectify the "involution style" competition, especially the low price disorderly competition in some fields, and guide related industries to return to value competition and rational competition. In recent years, the accounts receivable of enterprises have continued to grow rapidly, with an extended average recovery period and difficulty in clearing debts, becoming a persistent problem that troubles enterprises. We need to address the issue of overdue payments in enterprises on a regular basis and clean up and rectify malicious arrears behavior. Improve the governance mechanism of platform enterprises and promote the standardized and healthy development of platform economy. Gradually and steadily promote the reform of prices for public utilities such as water supply, gas supply, and heating.

Coordinate internal and external affairs, and expand the space for mutually beneficial international economic and trade cooperation. The more chaotic and intertwined the external environment becomes, the more we must adhere to opening up to the outside world and promote win-win cooperation in multiple fields. We should actively expand intermediate goods trade, cross-border e-commerce, digital trade, green trade, and vigorously develop service trade. Expand imports and promote balanced trade development. Organize the China International Import Expo successfully. Improve the management system for foreign investment and the comprehensive overseas service system, enhance the scientificity and safety of foreign investment, and strengthen the protection of overseas interests. Actively attracting and utilizing foreign investment, boosting the confidence of foreign investment in China, and supporting foreign-funded enterprises to deeply cultivate the Chinese market in the long term.

Lay a solid foundation and never relax in doing a good job in the work related to agriculture, rural areas, and farmers. Deeply carry out normalized and precise assistance, continuously consolidate and expand the achievements of poverty alleviation, and firmly guard the bottom line of preventing large-scale poverty relapse. Food security is the 'greatest of nations'. This year, the national summer grain production has exceeded 300 billion kilograms for the first time. We must continue to work hard to improve agricultural production and achieve a bountiful autumn and annual grain harvest. Stabilize the production and prices of agricultural and livestock products such as pigs, and promote the high-quality development of the beef and dairy industry. The construction of high standard farmland is an important carrier for implementing the strategy of storing grain on the ground and in technology. It is necessary to establish and improve the construction, operation, and management mechanisms to ensure that each piece is built into a piece and long-term benefits are achieved.

Take multiple measures to effectively strengthen people's livelihood security. Employment is the foundation of people's livelihood. This year, the number of college graduates has reached 12.7 million, setting a new high. We need to increase employment support for key groups. At present, the scale of flexible employment in China has reached about 200 million people, and there are numerous workers in new forms of employment. Relevant rights and interests protection work should keep up in a timely manner. Thoroughly analyze and effectively assess the impact of artificial intelligence on employment, and promote technological progress and inclusive development of employment. To expand consumption, it is necessary to enhance residents' consumption ability and willingness, and to study and introduce practical measures to promote the increase of income for urban and rural residents through high-quality development. Strengthen the construction of inclusive, basic, and bottom-up livelihood, ensure the provision of "one elderly, one primary" services, and improve the hierarchical and classified social assistance system. Deeply implement the continuous improvement action of air quality, win the three landmark battles of the "Three North" project, and actively and steadily promote carbon peak and carbon neutrality.

Hold the bottom line and effectively build a safety barrier. The wise guard against disasters before they are born, while the wise plan to harm the future. We must strengthen bottom line thinking and effectively prevent and resolve various risks. To stabilize the real estate market and promote high-quality urban renewal. Implement a comprehensive debt restructuring plan and prudently resolve local debt risks. Strengthen financial risk prevention and control, solidly promote the reform of local small and medium-sized financial institutions to reduce risks and improve quality. Deepen the comprehensive reform of investment and financing in the capital market, further improve the mechanism for medium and long-term capital inflows, and enhance the resilience and confidence of the capital market. Thoroughly investigate and rectify various risks and hidden dangers, resolutely curb the occurrence of major accidents, and effectively safeguard the safety of people's lives and property and social stability.

China's economic development has broad room for maneuver, enormous market potential, and strong resilience and vitality. We must have firm confidence, face difficulties head-on, make good use of various opportunities and advantages, and with a more vigorous and upward spirit, promote stable and far-reaching high-quality development.