CPC leadership holds meeting to study economic work

BEIJING -- The Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on Friday to study and analyze current economic circumstances and make plans for related work for the second half of 2021.

The meeting was chaired by Xi Jinping, general secretary of the CPC Central Committee.

Since the beginning of this year, China has coordinated COVID-19 prevention and control with economic and social development, effectively implemented macro policies, and ensured sustained recovery and improvement in its economy, said the meeting.

The country has also actively advanced scientific and technological self-reliance, enhanced reform and opening-up, effectively guaranteed people's livelihood, achieved new results in high-quality development, and maintained overall social stability.

The meeting noted that the global COVID-19 situation is still evolving and Chinese economy faces an increasingly complex and grave external environment.

The domestic economic recovery is still unfirm and unbalanced, according to the meeting.

To ensure sound economic work for the second half of 2021, the meeting stressed upholding the underlying principle of pursuing progress while ensuring stability, and the full, accurate and comprehensive implementation of the new development philosophy.

The meeting urged more efforts to deepen the supply-side structural reform, accelerate the building of a new development paradigm, and advance China's high-quality development.

It also stressed maintaining consistent, stable and sustainable macro policies, sound coordination to mesh this year's policies with those for 2022, and keeping the Chinese economy running within an appropriate range.

The proactive fiscal policy should generate greater effect, while the prudent monetary policy should maintain reasonably ample liquidity and support the continued recovery of small and medium-sized enterprises as well as stressed industries.

The meeting stressed keeping the renminbi's exchange rate basically stable at a reasonable and balanced level. It also urged efforts to ensure supply and stable pricing of commodities.