The Political Bureau of the CPC Central Committee held a meeting on July 24 to analyze and study the current economic situation and deploy economic work in the second half of the year. Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting.

The meeting held that since the beginning of this year, under the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core, all regions and departments have better coordinated the domestic and international situations, better coordinated epidemic prevention and control and economic and social development, and better coordinated development and security. The national economy has continued to recover, the overall recovery has improved, high-quality development has been steadily promoted, industrial upgrading has accumulated, food and energy security has been effectively guaranteed, and the overall social stability has remained stable, it has laid a good foundation for the realization of the annual economic and social development goals.

The meeting pointed out that the current economic operation is facing new difficulties and challenges, mainly due to insufficient domestic demand, difficulties in the operation of some enterprises, more risks in key areas, and a complex and severe external environment. After the smooth transition of epidemic prevention and control, economic recovery is a wave-like development and a tortuous process. China's economy has great resilience and potential for development, and the fundamentals of long-term improvement have not changed.

The meeting emphasized that to do a good job in economic work in the second half of the year, we must adhere to the general tone of seeking progress while maintaining stability, implement the new development concept completely, accurately and comprehensively, accelerate the construction of a new development pattern, comprehensively deepen reform and opening up, increase macro policy control, and focus on expanding Domestic demand, boosting confidence, preventing risks, and continuously promoting the continuous improvement of economic operations, the continuous enhancement of endogenous power, the continuous improvement of social expectations, and the continuous resolution of hidden risks, promote the effective improvement of the economy and the reasonable growth of quantity.

The meeting pointed out that it is necessary to make good use of policy space, find the right direction of force, and solidly promote high-quality economic development. We should implement macro-control accurately and forcefully, and strengthen counter-cyclical adjustment and policy reserves. We will continue to implement a proactive fiscal policy and a prudent monetary policy, continue, optimize, improve and implement the policy of reducing taxes and fees, give full play to the role of aggregate and structural monetary policy tools, and vigorously support scientific and technological innovation, the real economy and the development of small, medium and micro enterprises. It is necessary to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. To active capital markets, boost investor confidence.

The meeting emphasized that it is necessary to actively expand domestic demand, give play to the fundamental role of consumption in driving economic growth, expand consumption by increasing residents' income, drive effective supply through terminal demand, and organically combine the implementation of the strategy of expanding domestic demand with deepening supply-side structural reforms. To boost the automobile, electronic products, home and other bulk consumption, promote sports leisure, cultural tourism and other services consumption. We should give better play to the leading role of government investment and speed up the issuance and use of local government special bonds. It is necessary to formulate policies and measures to promote private investment. We should take more measures to stabilize the basic plate of foreign trade and foreign investment. International flights should be increased to ensure the stability and smooth flow of China-Europe trains.

The meeting pointed out that it is necessary to vigorously promote the construction of a modern industrial system, accelerate the cultivation and growth of strategic emerging industries, and create more pillar industries. We should promote the deep integration of digital economy, advanced manufacturing industry and modern service industry, and promote the safe development of artificial intelligence. To promote the healthy and sustainable development of platform enterprises.

The meeting emphasized that it is necessary to continue to deepen reform and opening up, adhere to the "two unshakable", effectively improve the core competitiveness of state-owned enterprises, and effectively optimize the development environment of private enterprises. It is necessary to resolutely crack down on arbitrary charges, fines and apportionments, and solve the problem of government arrears of enterprise accounts. It is necessary to establish and improve a normalized communication mechanism with enterprises, encourage enterprises to dare to venture, dare to invest, dare to take risks, and actively create markets. It is necessary to support qualified pilot free trade zones and free trade ports to connect with international high-standard economic and trade rules, and promote reform and opening up to try first. The third "the belt and road initiative" International Cooperation Summit Forum should be carefully organized.

The meeting pointed out that it is necessary to effectively prevent and resolve risks in key areas, adapt to the new situation of major changes in the supply and demand relationship of my country's real estate market, adjust and optimize real estate policies in a timely manner, and make good use of the policy toolbox according to urban policies to better meet the rigid and improved housing needs of residents. Promote the steady and healthy development of the real estate market. It is necessary to increase the construction and supply of affordable housing, actively promote the transformation of urban villages and the construction of public infrastructure for "flat and urgent dual-use", and revitalize and transform all kinds of idle real estate. We should effectively prevent and resolve local debt risks and formulate and implement a debt package. We should strengthen financial supervision and steadily promote the reform of high-risk small and medium-sized financial institutions.

The meeting stressed that it is necessary to strengthen the protection of people's livelihood, raise the stability of employment to a strategic height, and make sure the bottom line of the "three guarantees" at the grass-roots level, and expand the middle-income group. It is necessary to strengthen the protection and quality improvement of cultivated land, consolidate and expand the achievements of poverty alleviation, and comprehensively promote rural revitalization. We must resolutely prevent the occurrence of major safety accidents and ensure the supply of energy and electricity during the peak summer.

The meeting pointed out that it is necessary to take the opportunity of studying and implementing Xi Jinping's new era of socialism with Chinese characteristics as an opportunity to educate and guide the majority of party members and cadres to firmly establish a correct concept of political performance, better stimulate the enthusiasm of officials and entrepreneurs, and let outstanding cadres who are brave in taking responsibility and good at overcoming difficulties. Cadres stand out, make more contributions, and use the new atmosphere as a new way to promote high-quality development and achieve new results.

The meeting also examined other matters.