The Simplified Version of the Central Politburo Meeting Is Here, A Quick Overview of the Major Deployments

The Political Bureau of the CPC Central Committee held a meeting on April 25 to analyze and study the current economic situation and economic work. Xi Jinping, General Secretary of the CPC Central Committee, presided over the meeting.

Economic Situation Assessment

Since the beginning of this year, the economy has shown a positive trend, social confidence has continued to be boosted, high-quality development has been steadily advanced, and the overall social situation has remained stable.

The foundation for China's sustained economic recovery and improvement still needs to be further consolidated, and the impact of external shocks has increased.

Work Requirements

It is necessary to adhere to the general principle of seeking progress while maintaining stability, fully, accurately, and comprehensively implement the new development philosophy, accelerate the construction of a new development pattern, coordinate domestic economic work and international economic and trade struggles, unwaveringly handle our own affairs, unwaveringly expand high-level opening-up, focus on stabilizing employment, enterprises, markets, and expectations, and use the certainty of high-quality development to cope with the uncertainty of drastic changes in the external environment.

Macro Policies

Make good use of more proactive fiscal policies and moderately loose monetary policies.

Accelerate the issuance and use of local government special bonds and ultra-long-term special treasury bonds.

Timely implement RRR cuts and interest rate cuts, maintain ample liquidity, and increase support for the real economy.

Create new structural monetary policy tools, establish new-type policy financial tools, and support technological innovation, consumption expansion, and stable foreign trade.

Promoting Consumption

Increase the income of middle- and low-income groups, vigorously develop service consumption, and enhance the role of consumption in boosting economic growth.

Quickly clear restrictive measures in the consumption field, establish service consumption and pension re-lending.

Increase financial support, expand and improve the implementation of the "program of large-scale equipment upgrades and consumer goods trade-ins," and strengthen the implementation of the "implementation of major national strategies and the development of security capabilities in key areas."

Industrial Policies

Accelerate the integration of domestic and foreign trade.

Cultivate and strengthen new quality productive forces, and create a batch of emerging pillar industries.

Continue to push forward the tackling of key core technologies, innovate the "tech board" in the bond market, and accelerate the implementation of the "AI+" initiative.

Vigorously promote the quality upgrading of key industries, adhere to standard leadership, and regulate competition order.

Reform and Opening-up

Accelerate the construction of a unified national market, and solidly carry out special actions to standardize law enforcement involving enterprises.

Increase the intensity of service industry opening pilot policies, and strengthen services for enterprises "going global."

Work with the international community to actively uphold multilateralism and oppose unilateral bullying.

Real Estate Market

Strengthen the implementation of urban renewal actions, and effectively and orderly promote the renovation of urban villages and dilapidated houses.

Accelerate the construction of a new model for real estate development, increase the supply of high-quality housing, optimize the policy for acquiring existing commercial housing, and continue to consolidate the stable situation in the real estate market.

Capital Market

Continue to stabilize and activate the capital market.

Livelihood Security

For enterprises significantly affected by tariffs, increase the proportion of unemployment insurance fund returns for job stabilization.

Improve the hierarchical and classified social assistance system.

Strengthen agricultural production and stabilize the prices of important agricultural products such as grain.

Consolidate and expand the achievements of poverty alleviation and effectively connect them with rural revitalization.

Continue to do a good job in production safety, disaster prevention, and mitigation.