(Economic Observation) The Political Bureau of the Central Committee sets the tone for 2022 economic work to send three major signals

　　China News Service, Beijing, December 6

　　China News Agency reporter Zhou Rui

　　The Political Bureau of the CPC Central Committee held a meeting on December 6 to analyze and study the economic work in 2022, sending three important signals.

"Fourteenth Five-Year Plan" has a good start, China's economic development leads the world

　　From epidemics in many places to severe floods, from commodity price hikes to power and coal shortages, China's development in 2021 will encounter many unexpected challenges. Whether the economy can withstand the downward pressure has also attracted market attention.

　　The Politburo meeting held today summarized the work in 2021 and believed that China "could calmly respond to the changes in the century and the epidemic in the century, and strive to complete the arduous tasks of reform and development, and achieve a good start to the 14th Five-Year Plan".

　　There are many reasons to support this judgment.

　　First of all, China's economic development "maintains a leading position in the world."

Liu He, a member of the Politburo of the CPC Central Committee and Vice Premier of the State Council, previously revealed that China's economy has continued to recover since this year, and growth, employment, prices, and balance of payments are generally normal. It is expected that the annual economic growth will exceed the expected target.

　　The second is progress in key tasks.

Among the key tasks to be grasped in 2021 at the Central Economic Work Conference held at the end of last year, “strengthening the national strategic scientific and technological strength” and “enhancing the independent controllability of the industrial chain supply chain” ranked the top two.

　　The meeting pointed out that in 2021, China will "accelerate the development of national strategic scientific and technological forces and improve the resilience and advantages of the industrial chain".

In addition, "the reform and opening up are advancing in depth, the protection of people's livelihood is effective and effective, and the construction of ecological civilization continues to advance."

Setting the tone and stability as the head of China's macro policy demonstrates continuity

　　Regarding the economic work in 2022, the meeting set the tone of "stable and steady progress," and required macroeconomic policies to be "stable and effective."

　　"Stable" font is now the continuity, stability and sustainability of the policy.

According to the deployment of this conference, policies such as expanding domestic demand, promoting consumption, expanding effective investment, and stimulating the vitality of market entities will continue to be promoted in 2022, and fiscal and monetary policies will also continue the existing tone.

　　The meeting pointed out that in 2022, we will continue to implement a proactive fiscal policy and a prudent monetary policy.

A proactive fiscal policy must improve efficiency and pay more attention to precision and sustainability.

A prudent monetary policy must be flexible and appropriate to maintain reasonable and sufficient liquidity.

　　It is worth noting that on the same day that the Politburo meeting was held, the Central Bank of China announced that it would lower the deposit reserve ratio of financial institutions by 0.5 percentage points.

The central bank emphasized that the RRR cut is a regular operation of monetary policy and has not changed the orientation of prudent monetary policy.

The central bank will insist on keeping the word steady and refraining from flooding.

　　In addition, the meeting emphasized the need to promote the construction of affordable housing, support the commercial housing market to better meet the reasonable housing needs of buyers, and promote the healthy development and virtuous circle of the real estate industry in the real estate field that has attracted much attention recently.

Deploy key tasks and multiple major reforms are put on the agenda

　　While clarifying the policy tone, the meeting held today also deployed a number of key tasks and put forward requirements such as "doing a good job in key core technology research," "implementing the employment priority policy," and "promoting the implementation of the new fertility policy."

　　Some major reforms have also been put on the table.

　　In response to the imbalance of pensions in the region and the inability to cover expenditures in some areas, the meeting clearly requested that the national overall plan for basic pension insurance should be promoted.

　　In response to the imbalance in the level of social security between urban and rural areas and the people's expectations for the equalization of basic public services, the meeting called for "improving the basic public service system provided by permanent residence."

　　As usual, soon after the Political Bureau of the Central Committee studied economic work, the Central Economic Work Conference opened the curtain.

　　As for how China will continue to improve people's livelihood in 2022, focus on stabilizing the macroeconomic market, keeping the economy operating within a reasonable range, and maintaining the overall social stability, the outside world will get more answers from the Central Economic Work Conference.

(over)