Wang Huning, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference, addresses a symposium analyzing China's macroeconomic situation in 2024 in Beijing on Jan 21. [Photo/CPPCC Daily]

The National Committee of the Chinese People's Political Consultative Conference (CPPCC) held a symposium to review China's macroeconomic situation over the last year in Beijing on Jan 21. Wang Huning, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the CPPCC National Committee, addressed the meeting.

Wang emphasized the importance of implementing the guiding principles of the Central Economic Work Conference, deeply understanding China's economic development throughout the last year, grasping the underlying laws of economic work in the new era, and implementing the overall requirements, policy orientation, and key tasks for this year's economic work. He also highlighted the fundamental requirement of strengthening CPC leadership over economic affairs, urging all CPPCC members to align their thoughts and actions with the CPC Central Committee's analysis and judgment regarding the economic situation as well as its decisions and plans on economic work, in order to promote sustained economic recovery and high-quality development.

It is imperative to thoroughly implement the arrangements from the Central Economic Work Conference, as well as engage in research, consultation, deliberation and administration of State affairs and democratic supervision on major issues of economic and social development, he noted, calling for progress towards annual economic and social development targets and high-quality completion of the 14th Five-Year Plan (2021-25) objectives, to ensure a good start for the next five-year period.

Platforms including this symposium should be utilized to guide all sectors of society in taking a comprehensive and dialectical view of the economic situation and development trends, boost confidence in development, and better unite hearts and pool strength, he added.

Twelve CPPCC National Committee members spoke at the symposium on topics including better leveraging macroeconomic policy regulation, facilitating the effective implementation of landmark reform measures, building a modern industrial system, boosting consumption, expanding high-level opening-up, and effectively preventing and resolving risks in key areas.

Participants agreed that, in 2024, China’s major targets of economic and social development were met, representing significant progress for Chinese modernization. They highlighted the need to implement the guiding principles of the Central Economic Work Conference, uphold the principle of pursuing progress while ensuring stability, maintain confidence, and focus on implementing economic tasks to sustain recovery and growth.

The meeting was chaired by Shi Taifeng, a member of the Political Bureau of the CPC Central Committee and vice-chairman of the CPPCC National Committee. CPPCC National Committee vice-chairpersons Hu Chunhua, Wang Yong, Gao Yunlong, Chen Wu, Mu Hong, Wang Dongfeng, Qin Boyong and Zhu Yongxin all attended the meeting. Officials from the National Bureau of Statistics and the All-China Federation of Industry and Commerce provided briefings, while representatives from relevant departments and organizations engaged in discussions with CPPCC members.