The Central Economic Work Conference was held in Beijing from December 11 to 12. Chinese President Xi Jinping attended the conference and delivered an important speech. In his address, Xi Jinping reviewed the economic performance of 2024, analyzed the current economic situation, and outlined plans for the economic work in 2025. The conference assessed the achievements of 2024 and discussed the objectives for 2025.
The year 2024 was critical for achieving the goals of China’s 14th Five-Year Plan. Despite internal challenges and external pressures, economic stability was maintained, and the process of high-quality development was solidified. Reforms and opening-up efforts advanced, next-generation production capacities continued to grow, and the modernization process with Chinese characteristics gained momentum.
In 2025, maintaining economic growth stability, employment, and price balance was emphasized as key priorities. Furthermore, boosting domestic demand, fostering technological innovation, and pursuing structural transformations in industries were highlighted as essential goals. In line with these objectives, more proactive fiscal policies will be implemented, including increasing the budget deficit ratio and prioritizing public welfare expenditures.
Regarding foreign trade and investment, steps will be taken to expand free trade zones, strengthen the Belt and Road Initiative, and encourage foreign investment. Efforts will also focus on deepening economic reforms and making comprehensive investments in technology and innovation.
Additionally, concrete projects will be launched to reduce carbon emissions, combat environmental pollution, and protect biodiversity. Increasing employment, strengthening the social security system, and improving the quality of life for the people were among the conference’s top agenda items.