Ministry of Finance's Plenary Session Reiterates Real Estate & Urban Renewal, Which Positive Signals to Release?

Li Qiang, General Secretary of the Ministry of Finance, presided over the 9th plenary session on August 18, deeply studying the key speeches by Xi Jinping on current economic trends and economic work, stressing the importance of fully aligning thoughts and actions with the scientific judgments and policy deployments of the Party Central Committee. He emphasized consolidating and expanding the momentum of economic recovery, and working hard to accomplish all annual socioeconomic development targets.

(Photo/Reporter: Ai Min, Xinhua News Agency)

Li Qiang pointed out that since this year, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core, all sectors have united in efforts and overcome difficulties. China’s economy has maintained steady progress with high-quality development achieving new results. We must persistently grasp the overall economic situation with a comprehensive and accurate perspective—seeing both the challenges ahead and the strong resilience and vitality inherent in our economy, further strengthening confidence; while also recognizing the risks and challenges in economic operations, as well as the severe and complex external environment, we must remain calm and clear-headed, proactively respond to various uncertainties, firmly implement the decisions and deployments of the Party Central Committee, and deliver optimal outcomes through concrete action.

Li Qiang stressed the need to further enhance the effectiveness of macroeconomic policy implementation, conduct in-depth assessments of policy execution, strengthen the targeting and effectiveness of policies, promptly respond to market concerns, and stabilize market expectations. We mustfocus on key points to strengthen domestic large-scale circulation, leveraging the internal stability and long-term growth potential of the domestic large-scale circulation to counterbalance the uncertainty of the international cycle.continue stimulating consumption potential, systematically clearing restrictive measures in the consumption sector, accelerating the cultivation of large-scale service consumption and new consumption formats such as emerging consumption.increase effective investment and leverage the leading role of major projects, adapting investments more toward people and livelihood services, and actively promoting private investment.deepen the construction of a national unified large market, continuously releasing excess market profits from ultra-large-scale enterprises.take forceful measures to stabilize the real estate market and reverse downward trends, combining urban renewal with the promotion of urban village renovation and dilapidated housing upgrades, and comprehensively releasing transformation needs.. We must strengthen development momentum through deeper reform and opening-up.deepen integration between technological innovation and industrial upgrading, stimulating the innovative drive of all types of market entities. Firmly uphold the principle of not deviating.expand high-level openness, orderly expand self-driven and unilateral opening-up, and foster the development of digital trade and service trade. We must furtherstrongly stabilize employment and safeguard people's livelihood, broaden employment channels, focus on improving public services, further strengthen disaster prevention, risk reduction, relief, and safety production supervision, and ensure overall social stability.

Li Qiang emphasized that all regions and departments must continue to strengthen administrative efficiency, taking 'efficiently accomplishing one matter' as a key handle to continuously optimize government regulation and services, creating more favorable conditions for the public and business startups. We must innovate thinking, improve governance capabilities, enhance adaptability to new situations, and strengthen our ability to solve new problems. We must adhere to a pragmatic approach, act diligently and responsibly, and comprehensively raise the overall quality of government work.

All members of the plenary session are present. Relevant ministries and institutions’ responsible persons attend the meeting. Main leaders of provincial (regional, municipal) governments and new-generation construction teams appear at the meeting via video conference format.