Xi Jinping Delivers Important Speech; Li Qiang Makes Concluding Speech 习近平发表重要讲话 李强作总结讲话

Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, and Li Xi Attend 赵乐际王沪宁蔡奇丁薛祥李希出席会议

http://www.news.cn/politics/leaders/20251211/a583f835702d4dc2b8990ddee4644e92/c.html

Translated by Gemini, edited by Sinocism.com

BEIJING, Dec. 11 (Xinhua) — The Central Economic Work Conference was held in Beijing from December 10 to 11. Xi Jinping, General Secretary of the Communist Party of China (CPC) Central Committee, Chinese President, and Chairman of the Central Military Commission, attended the meeting and delivered an important speech. Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, and Li Xi, members of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting.

12月10日至11日，中央经济工作会议在北京举行。中共中央总书记、国家主席、中央军委主席习近平出席会议并发表重要讲话。新华社记者 燕雁 摄

新华社北京12月11日电　中央经济工作会议12月10日至11日在北京举行。中共中央总书记、国家主席、中央军委主席习近平出席会议并发表重要讲话。中共中央政治局常委李强、赵乐际、王沪宁、蔡奇、丁薛祥、李希出席会议。

In his important speech, Xi Jinping summarized the economic work of 2025, analyzed the current economic situation, and arranged the economic work for 2026. Li Qiang made a concluding speech, setting forth requirements for implementing the spirit of General Secretary Xi Jinping’s important speech and doing a good job in the economic work for the coming year.

习近平在重要讲话中总结2025年经济工作，分析当前经济形势，部署2026年经济工作。李强作总结讲话，对贯彻落实习近平总书记重要讲话精神、做好明年经济工作提出要求。

The meeting pointed out that this year has been an extraordinary one. The CPC Central Committee with Comrade Xi Jinping at its core has united and led the whole Party and the people of all ethnic groups in the country to face difficulties head-on and strive hard. We have unswervingly implemented the new development philosophy, promoted high-quality development, coordinated both domestic and international situations, and implemented more proactive and effective macro policies. The main goals for economic and social development are set to be successfully accomplished. China’s economy has surged ahead under pressure, developing toward new and better stages. The construction of a modern industrial system has continued to advance, new steps have been taken in reform and opening up, positive progress has been made in defusing risks in key areas, and people's livelihoods have been more effectively guaranteed. Over the past five years, we have effectively responded to various shocks and challenges, promoting new and major achievements in the cause of the Party and the country. The "14th Five-Year Plan" is about to conclude successfully, and a good start has been achieved in the new journey toward the Second Centenary Goal.

会议指出，今年是很不平凡的一年。以习近平同志为核心的党中央团结带领全党全国各族人民迎难而上、奋力拼搏，坚定不移贯彻新发展理念、推动高质量发展，统筹国内国际两个大局，实施更加积极有为的宏观政策，经济社会发展主要目标将顺利完成。我国经济顶压前行、向新向优发展，现代化产业体系建设持续推进，改革开放迈出新步伐，重点领域风险化解取得积极进展，民生保障更加有力。过去5年，我们有效应对各种冲击挑战，推动党和国家事业取得新的重大成就，“十四五”即将圆满收官，第二个百年奋斗目标新征程实现良好开局。

The meeting held that through practice, we have gained new understanding and insights on doing economic work well under new circumstances: We must fully tap into economic potential; we must adhere to both policy support and reform and innovation; we must ensure we can both "let go to vitalize" and "manage well"; we must insist on closely combining investment in physical assets with investment in human capital; and we must rely on practicing our "internal skills/internal energy 练内功" to cope with external challenges.

会议认为，通过实践，我们对做好新形势下经济工作又有了新的认识和体会：必须充分挖掘经济潜能，必须坚持政策支持和改革创新并举，必须做到既“放得活”又“管得好”，必须坚持投资于物和投资于人紧密结合，必须以苦练内功来应对外部挑战。

The meeting noted that there are still many old problems and new challenges in China's economic development. The impact of changes in the external environment is deepening, the contradiction of strong domestic supply and weak demand is prominent, and there are many risks and hidden dangers in key areas. Most of these are problems arising during development and transformation, and they can be solved through effort. The supporting conditions and the basic trend of China's economy remaining positive in the long run have not changed. We must strengthen confidence, utilize our advantages, respond to challenges, and continuously consolidate and expand the trend of economic recovery and improvement.

会议指出，我国经济发展中老问题、新挑战仍然不少，外部环境变化影响加深，国内供强需弱矛盾突出，重点领域风险隐患较多。这些大多是发展中、转型中的问题，经过努力是可以解决的，我国经济长期向好的支撑条件和基本趋势没有改变。要坚定信心、用好优势、应对挑战，不断巩固拓展经济稳中向好势头。

The meeting emphasized that to do a good job in economic work next year, we must follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, deeply implement the spirit of the 20th CPC National Congress and the plenary sessions of the 20th Central Committee, and fully, accurately, and comprehensively implement the new development philosophy. We must accelerate the construction of a new development pattern, focus on promoting high-quality development, and adhere to the general principle of seeking progress while maintaining stability. We must better coordinate domestic economic work and international economic and trade struggles, better coordinate development and security, and implement more proactive and effective macro policies. We must enhance its foresight, precision, and coordination, continuously expand domestic demand and optimize supply, and improve the quality of new growth while revitalizing existing resources, and develop new quality productive forces according to local conditions. We must deepen the construction of a unified national market, continuously prevent and defuse risks in key areas, focus on stabilizing employment, enterprises, the market, and expectations, promote the effective improvement of economic quality and the reasonable growth of quantity, maintain social harmony and stability, and achieve a good start for the “15th Five-Year Plan

会议强调，做好明年经济工作，要以习近平新时代中国特色社会主义思想为指导，深入贯彻党的二十大和二十届历次全会精神，完整准确全面贯彻新发展理念，加快构建新发展格局，着力推动高质量发展，坚持稳中求进工作总基调，更好统筹国内经济工作和国际经贸斗争，更好统筹发展和安全，实施更加积极有为的宏观政策，增强政策前瞻性针对性协同性，持续扩大内需、优化供给，做优增量、盘活存量，因地制宜发展新质生产力，纵深推进全国统一大市场建设，持续防范化解重点领域风险，着力稳就业、稳企业、稳市场、稳预期，推动经济实现质的有效提升和量的合理增长，保持社会和谐稳定，实现“十五五”良好开局。

The meeting pointed out that regarding the policy orientation for next year's economic work, we must adhere to seeking progress while maintaining stability and promoting quality and efficiency. We must leverage the integrated effects of existing policies and incremental policies, increase the intensity of counter-cyclical and cross-cyclical adjustments, and improve the efficacy of macro-economic governance. We must continue to implement a more proactive fiscal policy. Maintain necessary fiscal deficit levels, total debt scale, and total expenditure, strengthen scientific fiscal management, optimize the structure of fiscal expenditure, and standardize tax incentives and fiscal subsidy policies. Attach importance to solving local fiscal difficulties and firmly hold the bottom line of the "three guarantees" at the grassroots level. Enforce strict financial and economic discipline, and insist that party and government organs get used to "tightening one’s belt 过紧日子". We must continue to implement a moderately loose monetary policy. Take promoting stable economic growth and a reasonable recovery of prices as important considerations for monetary policy, flexibly and efficiently use various policy tools such as cutting the reserve requirement ratio (RRR) and interest rates to maintain sufficient liquidity, smooth the transmission mechanism of monetary policy, and guide financial institutions to increase support for key areas such as expanding domestic demand, technological innovation, and micro, small, and medium-sized enterprises. Keep the RMB exchange rate basically stable at a reasonable and balanced level. We must enhance the consistency and effectiveness of macro policy orientation. Include all types of economic and non-economic policies, as well as existing and incremental policies, into the macro policy orientation consistency assessment. Improve the expectation management mechanism to boost social confidence.

会议指出，明年经济工作在政策取向上，要坚持稳中求进、提质增效，发挥存量政策和增量政策集成效应，加大逆周期和跨周期调节力度，提升宏观经济治理效能。要继续实施更加积极的财政政策。保持必要的财政赤字、债务总规模和支出总量，加强财政科学管理，优化财政支出结构，规范税收优惠、财政补贴政策。重视解决地方财政困难，兜牢基层“三保”底线。严肃财经纪律，坚持党政机关过紧日子。要继续实施适度宽松的货币政策。把促进经济稳定增长、物价合理回升作为货币政策的重要考量，灵活高效运用降准降息等多种政策工具，保持流动性充裕，畅通货币政策传导机制，引导金融机构加力支持扩大内需、科技创新、中小微企业等重点领域。保持人民币汇率在合理均衡水平上的基本稳定。要增强宏观政策取向一致性和有效性。将各类经济政策和非经济政策、存量政策和增量政策纳入宏观政策取向一致性评估。健全预期管理机制，提振社会信心。

The meeting determined the following key tasks for next year's economic work.