英语新闻丨坚定不移完成全年经济社会发展目标任务

A key meeting of the Communist Party of China pledged on Tuesday to step up macroeconomic support in the second half of this year, with greater focus on expanding domestic demand, cultivating emerging sectors and widening opening-up in a bid to meet the nation's annual growth target for 2024.

7月30日，习近平总书记主持召开中共中央政治局会议，分析研究当前经济形势，部署下半年经济工作。会议作出的一系列重要部署指引各地各部门各方面坚定发展信心，保持战略定力，积极主动应对问题和挑战，进一步全面深化改革，增强经济持续回升向好态势，为推动高质量发展汇聚强大合力。

The economic priorities were set out as the Political Bureau of the CPC Central Committee held a meeting to analyze the performance of the world's second-largest economy.

此次中央政治局会议指出，今年以来“经济运行总体平稳、稳中有进，延续回升向好态势”。

Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting, two weeks after the third plenary session of the 20th CPC Central Committee adopted wide-ranging policy measures to forge ahead with the nation's reform and opening-up drive.

中共中央总书记习近平主持了此次会议。7月18日，中国共产党第二十届中央委员会第三次全体会议通过了《中共中央关于进一步全面深化改革 推进中国式现代化的决定》（以下简称《决定》）。

According to a statement issued after the meeting, the CPC leadership highlighted challenges including mounting negative factors from the external environment, lack of effective demand domestically, lingering risks in key sectors and "growing pains in the transition between old and new growth drivers".

会议同时指出，当前外部环境变化带来的不利影响增多，国内有效需求不足，经济运行出现分化，重点领域风险隐患仍然较多，新旧动能转换存在阵痛。

"We must enhance our awareness of risks and worst-case scenarios, come up with proactive responses, maintain strategic resolve, and strengthen our confidence in development," the statement said.

《决定》声明，面对严峻复杂的国际环境和艰巨繁重的国内改革发展稳定任务，坚持稳中求进工作总基调，统筹发展和安全，着力推动高质量发展。

The policymakers required fully leveraging the role of economic structural reform as the spearhead and promptly introducing a series of reform measures that are "mature, effective and achievable".

此次中央政治局会议强调，要以改革为动力促进稳增长、调结构、防风险，充分发挥经济体制改革的牵引作用，及时推出一批条件成熟、可感可及的改革举措。

They emphasized the need to encourage entrepreneurship and move faster to help Chinese companies become world-class through reform, innovation and fair competition.

着力营造更加公平、更有活力的市场环境，推动更多中小企业成长为瞪羚企业和独角兽企业。

More effective macroeconomic policies must be consistently carried out, focusing on the issuance and use of special-purpose bonds, improvement of the fiscal expenditure structure and financial support for the real economy, the statement said, adding that the exchange rate of the renminbi should remain generally stable at an adaptive, balanced level.

面对下半年繁重的改革发展稳定任务，会议明确指出，宏观政策要持续用力、更加给力。要加强逆周期调节，实施好积极的财政政策和稳健的货币政策，加快全面落实已确定的政策举措，及早储备并适时推出一批增量政策举措。

Provincial-level regions serving as economic powerhouses should continue to take the leading role in economic development, the policymakers said.

会议强调要切实增强宏观政策取向一致性，并提出继续发挥好经济大省挑大梁作用。

To boost domestic consumption, they also said economic policies should focus on increasing the incomes of residents through multiple channels and spurring spending in sectors such as tourism, elderly and child care, housekeeping and other services.

会议提出“要多渠道增加居民收入，增强中低收入群体的消费能力和意愿”“支持文旅、养老、育幼、家政等消费”。

While calling for cultivating more emerging industries and future-oriented industries, they warned against "vicious competition" among peer companies.

“要有力有效支持发展瞪羚企业、独角兽企业”“要强化行业自律，防止‘内卷式’恶性竞争”，会议的部署引人关注。

They required removing all market access restrictions for foreign investment in the manufacturing sector and promoting trials and demonstrations for expanding opening-up of the service sector, in order to stabilize the inflow of foreign investment.

“进一步营造市场化、法治化、国际化一流营商环境，稳步扩大制度型开放”“推出新一轮服务业扩大开放试点举措，促进利用外资企稳回升”

Regarding the real estate sector, the meeting stressed efforts to ensure the delivery of housing projects and accelerate the development of a new model for the sector.

会议指出，房地产业应进一步做好保交房工作，加快构建房地产发展新模式。

It called for steps to improve and implement comprehensive local debt resolution plans and create conditions to expedite the mitigation of debt risks associated with local government financing platforms.

会议还对防范化解地方政府债务风险作出部署，明确提出“要完善和落实地方一揽子化债方案，创造条件加快化解地方融资平台债务风险”。

"We must strengthen assistance and support for low-income populations and develop a tightly woven social safety net," the statement said.

此外，会议强调“要统筹防风险、强监管、促发展，提振投资者信心，提升资本市场内在稳定性”。

The meeting also reviewed a set of provisions on rectifying formalism to alleviate the burden on the grassroots level, emphasizing that pointless formalities and bureaucratism that affect the implementation of the Party Central Committee's decisions and plans must be firmly rectified.

会议还审议了关于整治形式主义为基层减负专项工作机制的相关文件，强调深化整治形式主义为基层减负，必须坚持以改革精神破解顽瘴痼疾。

Prior to the meeting, the CPC Central Committee held a symposium on Friday with non-CPC personages to seek opinions and suggestions on the country's current economic situation and economic work for the second half of the year.

7月26日，中共中央召开党外人士座谈会，习近平主席主持并就当前经济形势和下半年经济工作发表重要讲话。

Xi, who presided over the symposium, said the difficulties and challenges that China's economic development is currently faced with are problems that arise during the process of economic development and transitioning, and can certainly be overcome through persistent efforts.

习近平主席强调，当前我国经济发展遇到一些困难和问题，是发展中、转型中的问题，经过努力是完全可以克服的。

China has targeted its economic growth at around 5 percent for 2024. Official data showed that the country's gross domestic product grew 5 percent year-on-year in the first half of the year.

我国2024年经济目标是将经济增长率保持在5%左右。官方数据显示，上半年，我国GDP同比增长5.0%。

Looking to the next half of the year, Zhou Maohua, a researcher at China Everbright Bank, said the policy focus will be on stabilizing growth, preventing risks and deepening reforms.

光大银行宏观市场部研究员周茂华展望下半年，我国政策重点将放在稳增长、调结构、防风险等系列改革上。

Citing measures mapped out by the key meeting, such as speeding up the issuance of local government special bonds and driving large-scale equipment upgrades and trade-in deals for consumer goods, he said the moves will help stimulate market vitality and strengthen the growth momentum for consumption and domestic demand.

要加快专项债发行使用进度，用好超长期特别国债，支持国家重大战略和重点领域安全能力建设，更大力度推动大规模设备更新和大宗耐用消费品以旧换新……会议围绕实施好积极的财政政策作出具体部署。

Li Daokui, director of Tsinghua University's Academic Center for Chinese Economic Practice and Thinking, said the country is on track to meet its annual growth target of around 5 percent this year, as the country is poised to launch a number of policy measures to support growth in the remainder of the year.

清华大学中国经济思想与实践研究院院长李稻葵表示，今年下半年，我国将推出一系列政策措施来支持经济增长，有望实现今年5%左右的年增长率目标。

Li said he remains "quite optimistic about China's economic growth in 2024", and he expects to see gradual stabilization in prices and recovery in confidence among businesses, investors and consumers amid strong policy stimulus in the next half of the year.

他表示仍然“对2024年中国经济增长保持乐观”。预计在下半年的政策刺激下，物价将趋于稳定，企业、投资者和消费者的信心也将有所提振。

As the broader economy still faces headwinds, he said a package of measures is needed to defuse local government debt risks, boost consumer sentiment and stabilize the housing sector.

由于整体经济仍面临动荡，我国需要采取一揽子措施来化解地方政府债务风险，提振消费者信心，稳定房地产行业。

Political Bureau of the CPC Central Committee

n.中央政治局

non-CPC personages

n.党外人士

Tsinghua University's Academic Center for Chinese Economic Practice and Thinking

n.清华大学中国经济思想与实践研究院