Original title: Xi Jinping presided over the first meeting of the 20^th Central Committee for Financial and Economic Affairs, emphasizing speeding up the construction of a modern industrial system supported by the real economy and supporting Chinese-style modernization with high-quality population development

Li Qiang, Cai Qi and Ding Xuexiang attended the meeting

On the afternoon of May 5, Xi Jinping, General Secretary of the Communist Party of China Central Committee, President of the People’s Republic of China, Chairman of the Central Military Commission, and Director of the Central Committee for Financial and Economic Affairs (CCFEA), presided over the first meeting of the 20^th Central Committee for Financial and Economic Affairs. He emphasized the importance of carrying out the work of the new Central Committee for Financial and Economic Affairs, studying the acceleration of the construction of a modern industrial system, and examining the issue of Chinese-style modernization supported by high-quality population development. Xi Jinping delivered an important speech at the meeting, stressing that the newly grouped CCFEA should continue to play a role in formulating major economic strategies and further strengthen and improve the centralized and unified leadership of the CPC Central Committee over economic work. The modern industrial system is the material and technological foundation of a modernized country and the focus of the economic development should be placed on the real economy to provide solid material support for China to realize its Second Centenary Goal. Population development is a matter of great significance for the great rejuvenation of the Chinese nation, and efforts must be made to improve the overall quality of the population and support Chinese-style modernization with high-quality population development.

Li Qiang, Member of the Standing Committee of the Political Bureau of the CPC Central Committee, Premier of the State Council, and Deputy Director of the CCFEA; Cai Qi, Member of the Standing Committee of the Political Bureau of the CPC Central Committee, Member of the CPC Central Committee Secretariat, and Member of the CCFEA; Ding Xuexiang, Member of the Standing Committee of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council, and Member of the CCFEA, attended the meeting.

The meeting heard reports from the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, and the Ministry of Agriculture and Rural Affairs on accelerating the construction of a modern industrial system. The meeting also heard reports from the National Development and Reform Commission, the National Health Commission, the Ministry of Human Resources and Social Security, and the Ministry of Education on supporting China’s modernization with high-quality population development.

The meeting pointed out that economic development is the central work of the Party, and strengthening the Party’s leadership over economic work is of great significance to strengthen the Party’s overall leadership. The Central Committee for Financial and Economic Affairs is an important institutional arrangement for the Party Central Committee to lead economic work, with significant responsibilities and important roles. To reach great achievements of the new CCFEA, we must fully, accurately, and comprehensively implement the new development concept, accelerate the construction of a new development paradigm, and strive to promote high-quality development. We must strengthen strategic planning, enhance a systemic perspective, promote coordinated implementation, strengthen learning and research, and consistently implement the national development strategy. The meeting reviewed and approved the Work Regulations for the Central Commission for Financial and Economic Affairs and the Detailed Regulations for the Office of the Central Commission for Financial and Economic Affairs.

The meeting emphasized the need to accelerate the construction of a modern industrial system supported by the real economy, which concerns whether China can take the strategic initiative when it comes to its future development and global competition. We must seize the new wave of technological revolution such as artificial intelligence, adapt to the requirements of the harmony between humanity and nature, maintain and enhance the advantages of a complete and well-coordinated industrial system, efficiently gather global innovative elements, promote industrial intelligence, greenization, and integration, and build a modern industrial system that is complete, advanced, and secure. We must maintain the real economy as the mainstay and prevent it from being sidelined; take steady and incremental steps, and avoid pursuing grandeur and foreignness; adhere to the integrated development of the primary, secondary and tertiary industries and avoid fragmentation and opposition; adhere to promoting the transformation and upgrading of traditional industries rather than eliminating them as “low-end industries”; adhere to openness and cooperation and avoid working behind closed doors.

It was stressed at the meeting that it is necessary to improve the industrial policies under the new development stage, prioritize the maintenance of industrial security, strengthen the top-level design of strategic areas, and enhance the coordination of industrial policies. It is necessary to strengthen the core technologies in key areas and development and strategic resource support, and implement the status of enterprises as the main body of technological innovation from an institutional perspective. It is necessary to pay more attention to the integration of food and technology, and break through the limitations of natural conditions such as arable land on agricultural production. It is necessary to make good use of the advantages of a large-scale market, combine the strategies of expanding domestic demand and driving innovation-led development, and strengthen the openness and cooperation of industrial chain and supply chain. It is necessary to vigorously build world-class enterprises, cherish and care for outstanding entrepreneurs, and vigorously cultivate craftsmen of great powers.

The meeting pointed out that the current population development in China is showing the trend of birthrate decline, population aging, and differentiation of regional population growth. We must comprehensively understand and correctly view the new situation of China’s population development. We should focus on the strategic arrangement of building a strong country and achieving national rejuvenation, improve the strategic development of population in the new era, understand, adapt to, and guide the new normal of population development, strive to improve the overall quality of the population, make efforts to maintain a moderate fertility level and population size, accelerate the shaping of modern human resources with good quality, sufficient quantity, optimized structure, and reasonable distribution, and support the modernization with high-quality population development in China. We should take a systematic approach to plan population issues, promote high-quality population development through reform and innovation, closely integrate high-quality population development with people’s high-quality life, and promote all-round development of people and common prosperity of all people.

The meeting stressed the need to deepen the reform and innovation of the education and health services industries, regard the construction of an education powerhouse as a strategic project for high-quality population development, comprehensively improve the scientific and cultural quality, health quality, and intellectual and moral level of the population. It is imperative to establish a sound system of support policies for childbirth, vigorously develop a universal childcare service system, significantly reduce the burden of raising children on households and child-rearing education, promote the construction of a childbirth-friendly society, and promote the long-term balanced development of the population. It is necessary to strengthen the development and utilization of human resources, stabilize the labor participation rate, and improve the efficiency of human resource utilization. It is necessary to implement the national strategy of actively responding to population aging, promote the construction of a basic elderly care service system, vigorously develop the silver economy, accelerate the development of a multi-level and multi-pillar pension insurance system, and strive to ensure that the elderly is taken care of, have opportunities for work, and enjoy their lives. It is necessary to better coordinate the relationship between population, economy, society, resources, and the environment, optimize the regional economic layout and national spatial system, optimize the population structure, maintain population security, and promote high-quality population development.

The participants also include members of the CCFEA, leading officials of relevant departments of the Party Central Committee and the Central Government.