China aims to achieve economic stability for 2020

  • Economy
  • Friday, 13 Dec 2019

President Xi Jinping addresses the Central Economic Work Conference in Beijing. The conference was held from Tuesday to Thursday. [RAO AIMIN / XINHUA]

BEIJING: China will focus on economic stability in 2020, maintaining its proactive fiscal policy and prudent monetary policy to ensure high-quality growth, a statement issued after the annual Central Economic Work Conference said on Thursday.

Xi Jinping, general secretary of the Communist Party of China Central Committee, Chinese president and chairman of the Central Military Commission, reviewed the country's economic work in 2019, analyzed the current situation and outlined key tasks for 2020 during the three-day meeting held in Beijing that started on Tuesday.

Next year will be the last year of China's 13th Five-Year Plan (2016-20), through which the country plans to build a moderately prosperous society in all respects. It leads to the beginning of the 14th Five-Year Plan (2021-25), so performing economic work well is crucially important.

The statement listed several key areas for next year, such as improving high-quality development, ensuring the poverty alleviation target can be achieved on time, maintaining a stable macroeconomic leverage level, producing a three-year reform plan for State-owned enterprises and stabilizing employment. All measures should ensure that economic growth stays within a reasonable range. - China Daily

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