DALIAN CHINA  DALIAN CHINA
Xi Jinping Presides over the Fifth Meeting of the Central Financial and Economic Commission
2019-08-27

Xi Jinping presided over the fifth meeting of the Central Financial and Economic Commission, stressing that

 

we should promote regional economic layout with complementary advantages and high-quality development and

 

give full play to advantages to improve the basic capability of industry and the level of the industrial chain.

 

Li Keqiang, Wang Huning and Han Zheng attended the meeting.

 

Beijing, Aug 26 (Xinhua)—On the afternoon of August 26 , Xi Jinping, general secretary of the CPC Central Committee, state president, chairman of the Central Military Commission, and director of the Central Financial and Economic Commission, presided over the fifth meeting of the Central Financial and Economic Commission to study the issue of regional economic layout to promote complementary advantages and high-quality development, and to improve the basic capability of industry and the level of the industrial chain. Xi Jinping made an important speech at the meeting, stressing that we should follow the path of rational division of labor, optimize development, implement the strategy of main functional areas, improve spatial governance, and form a regional economic layout featuring complementary advantages and high-quality development, in accordance with the conditions of each region. We should give full play to the institutional advantages of concentrating our efforts on major tasks and the advantages of the super-large-scale market, and fight a tough battle to upgrade the industrial base and modernize the industrial chain.

 

Li Keqiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee, premier of the State Council, and deputy director of the Central Financial and Economic Commission,Wang Huning, member of the Standing Committee of the Political Bureau of the CPC Central Committee, member of the Secretariat of the CPC Central Committee, and member of the Central Financial and Economic Commission; and Han Zheng, member of the Standing Committee of the Political Bureau of the CPC Central Committee, vice premier of the State Council, attended the meeting.

 

The meeting heard the report from the National Development and Reform Commission, the National Bureau of Statistics, Shanghai, Guangdong and Liaoning Provinces on the regional economic layout for complementary advantages and high-quality development, and issues on the improvement of industrial infrastructure and industrial chain levels from the National Development and Reform Commission, the Ministry of Industry and Information Technology, the State-owned Assets Supervision and Administration Commission of the State Council, and the Chinese Academy of Engineering.

 

The meeting pointed out that the current regional development situation in China is good, while the spatial structure of economic development is undergoing profound changes, and central cities and urban agglomeration are becoming the main spatial forms bearing the development elements. Under the new situation, we should adjust and improve the regional policy system in accordance with objective economic laws, bring into play the comparative advantages of various regions, promote the rational flow and efficient agglomeration of all kinds of factors, enhance the impetus for innovation and development, speed up the construction of a high-quality impetus system for development, enhance the economic and population carrying capacity of economically advanced regions such as central cities and urban agglomeration, and enhance the functions of other regions in ensuring food security, ecological security, border security, and so on. We should ensure the basic guarantee of people’s livelihood, promote the equalization of basic public services, and create a balance in development.

 

The meeting stressed that we should form a unified, open and orderly competitive commodity and factor market throughout the country, so that the market plays a decisive role in the allocation of resources, improve the mechanism for market integration and development, and deepen the mechanism for regional cooperation. On the basis of provincial-level overall planning, we should speed up the overall planning of endowment insurance nationwide and realize system unification and mutual aid and assistance among regions throughout the country. It is necessary to reform the land management system, enhance the flexibility of land management, and make the advantageous areas have more room for development. It is necessary to improve the dual control of the total amount and intensity of energy consumption, establish an overall ecological compensation system, and perfect the inter-regional benefit compensation mechanism and the vertical ecological compensation mechanism. We need to improve the fiscal transfer payment system and provide effective transfer payments to key ecological function areas, producing areas of major agricultural product , and difficult areas. Northeast China should actively readjust its economic structure, promote diversified industrial development, speed up the reform of state-owned enterprises, build a new frontier of opening up, speed up the transformation of government functions, promote entrepreneurship, strengthen positive incentives for cadres, establish a clear personnel orientation, and realize all-round revitalization.

 

The meeting pointed out that China’s manufacturing industry ranks first in the world and is the only country in the world with all industrial categories. We should give full play to the institutional advantages of concentrating our efforts on major tasks and the market advantages of a very large scale, take the consolidation of industry basic capability as the root, take self-control, safety and efficiency as the goal, take enterprises and entrepreneurs as the main body, take policy coordination as the guarantee, adhere to the application of traction and problem-oriented, adhere to the combination of government guidance and market mechanism, adhere to the promotion of independence and open cooperation, and make a good attack on the upgrading of the industrial base and the modernization of the industrial chain.

 

The meeting stressed that it is necessary to implement the industrial foundation reengineering project, do a good job in the top-level design, make clear the key points of the project, organize the implementation in different categories, and enhance the ability of self-reliance. It is necessary to build a strategic and overall industrial chain, support upstream and downstream enterprises in strengthening industrial coordination and technical cooperation to tackle key problems, enhance the resilience of the industrial chain, upgrade the level of the industrial chain, and form an industrial chain with stronger innovation and higher added value in the course of opening up and cooperation, based on the eight-character policy of “consolidating, strengthening, upgrading and unblocking”. It is necessary to establish a common technology platform to solve the key common technology problems across industries and domains. We should give full play to the entrepreneurial spirit and artisan spirit, and cultivate a number of small and medium-sized enterprises that are “special and late-model”. 

 

Members of the Central Financial and Economic Commission attended the meeting, and responsible comrades of relevant departments of the central and state organs attended the meeting as a non-voting participant.