Presided by General Secretary Xi Jinping on Friday, the meeting of the Political Bureau of the CPC Central Committee reviewed drafts that will be submitted to the fourth session of the 14th National People’s Congress (NPC) for deliberation.
The session marks a critical juncture as the country concludes its current five-year milestones and pivots toward new strategic goals for the “15th Five-Year Plan” period, according to Xinhua.
Policymakers emphasized the need for “more active” fiscal measures and “moderately loose” monetary policies to stabilize the economy. The directive calls for strengthening the synergy between reform initiatives and macro policies to expand domestic demand and optimize supply. The meeting stressed the importance of balancing domestic and international dynamics while prioritizing high-quality development.
The meeting identified the upcoming “15th Five-Year Plan” period as a crucial phase for solidifying the foundations of socialist modernization. Officials stressed that the scientific formulation of this roadmap is essential for overcoming development bottlenecks and sustaining growth. The objective is to ensure decisive progress in modernization by addressing shortfalls and consolidating existing advantages.
Reviewing the “14th Five-Year Plan,” the leadership described the past five years as “extraordinary” amidst complex international and domestic challenges.
The meeting noted that major objectives have been achieved, with significant strides in economic strength, technological capacity, and comprehensive national power, despite the pandemic and other risks.
“We must effectively upgrade the quality of the economy and achieve a reasonable growth in quantity,” the official statement read. Future efforts will prioritize high-level technological self-reliance and the development of “new quality productive forces” adapted to local conditions.
The leadership also highlighted the importance of preventing risks in key areas, advancing rural revitalization, and accelerating a comprehensive green transition.
Read more: Xi Jinping advocates for yuan as a global reserve currency, analysts warn large reforms needed
The finalized drafts will be presented for review at the upcoming fourth session of the 14th NPC and discussed at the fourth session of the 14th National Committee of the Chinese People’s Political Consultative Conference. The leadership called for broad consensus and democratic consultation during the review process.
