In the face of many risks and challenges, China's economy made a smooth start in the first quarter of this year. However, the "triple pressure" superimposes some "unexpected" factors, and the downward pressure on the economy can not be ignored. The meeting of the Political Bureau of the CPC Central Committee held on April 29 set the tone for the current economic work and stressed the need to "strive to achieve the expected objectives of economic and social development throughout the year and keep the economic operation within a reasonable range". We will fully implement the major policies of the CPC Central Committee, make good use of strategic advantages, pool the joint forces of steady growth, and promote steady and healthy economic development in tackling difficulties. China's economic operation has made a smooth start on the whole From the perspective of the important indicators supporting the macro economy, the chassis of China's "stable" economy is still solid: in the first quarter, GDP increased by 4.8% year-on-year, and the added value of industries above designated size increased by 6.5% year-on-year, both rebounding from the fourth quarter of last year; Fixed asset investment increased by 9.3% year-on-year, and the contribution rate of final consumption expenditure growth to economic growth was 69.4%; The average unemployment rate in the national urban survey is 5.5%, and the employment pattern is generally stable; Consumer prices rose by 1.1% year-on-year; Foreign exchange reserves remained stable at about $3.2 trillion From the perspective of new economic indicators surging new kinetic energy, the characteristics of "entering" are also distinctive: in the first quarter, the added value of high-tech manufacturing increased by 14.2% year-on-year; The online retail sales of physical goods further increased by 8.8% on the high base; The output of new energy vehicles increased by 140.8% "In the first quarter as a whole, the economy started smoothly and the development situation was in line with expectations." Zhao Chenxin, member of the Party group and Secretary General of the national development and Reform Commission, said that the impact on China's economy is phased and temporary. With the policy effect of effectively coordinating epidemic prevention and control and economic and social development gradually emerging, the economy is expected to return to the normal track soon. Only by correctly understanding the current difficulties and challenges, strengthening the confidence of seeking progress while maintaining stability, and ensuring that the decisions and arrangements of the Political Bureau of the CPC Central Committee are implemented in place can we continue to accumulate strength for recovery in our efforts to achieve the objectives and tasks of economic and social development throughout the year. Stable growth, employment and prices are the key The meeting of the Political Bureau of the CPC Central Committee pointed out that "the complexity, severity and uncertainty of China's economic development environment have increased, and stabilizing growth, employment and prices are facing new challenges". Yang Zhiyong, vice president of the Institute of financial strategy of the Chinese Academy of Social Sciences, said that in the face of factors such as the impact of the epidemic and the crisis in Ukraine, the triple pressure of shrinking domestic demand, supply impact and weakening expectations is more prominent. The central government's emphasis on "three stabilities" is not only the key to stabilizing the current economy, but also the focus of a series of important deployment. "The epidemic should be prevented, the economy should be stable and development should be safe" - this is the clear requirement of the Party Central Committee. Since March, the central government has intensively studied and judged the new situation, and a series of important meetings have continuously released clear signals that economic policies need to be strengthened in a timely manner. "The top priority is to put steady growth in a more prominent position." Long Haibo, a researcher at the development research center of the State Council, said that we should efficiently coordinate the epidemic prevention and control and economic and social development, and minimize the impact of the epidemic on economic and social development, so as to better guide expectations, boost confidence and mobilize the enthusiasm of all parties. Stabilizing employment and prices is the key support for maintaining the economy in a reasonable range. Employment is the foundation of people's livelihood and social stability. It is estimated that 1 percentage point of economic growth can drive about 2 million jobs. Under the pressure of global inflation, it is very important to maintain the long-term and overall stable operation of domestic prices for the healthy development of economy and society. From "implementing tax rebate, tax reduction and fee reduction policies" to "implementing a package of relief and assistance policies for industries, small, medium-sized and micro enterprises and individual industrial and commercial households seriously affected by the epidemic"; From "doing a good job in ensuring the supply and price of energy and resources, and doing a good job in preparing for spring ploughing" to "organizing the supply of important livelihood commodities", the meeting of the Political Bureau of the CPC Central Committee made important arrangements for key tasks. As of April 20, the new combined tax support policy has reduced the tax burden and increased cash flow for enterprises across the country by more than 1 trillion yuan. It is estimated that the annual tax rebate and reduction will be about 2.5 trillion yuan; This year, the central government's employment subsidy fund increased by 5.168 billion yuan over last year; The highest proportion of post stabilization return of unemployment insurance for small, medium-sized and micro enterprises and individual industrial and commercial households was raised to 90%. The central government allocated 20 billion yuan to provide one-time subsidies to farmers who actually grow grain; Accelerate the release of high-quality coal production capacity and improve the price transmission mechanism of coal and electricity; Strengthen the linkage supervision of the futures and spot market, and clarify the price bid up behavior of operators in the coal field... A series of arrangements to avoid the sharp rise and fall of prices affecting the basic people's livelihood. We will closely follow the key tasks of stabilizing growth, employment and prices, accurately and effectively promote a series of decisions and arrangements of the CPC Central Committee, firmly hold the bottom line of no systemic risks, and China's economy is confident to cope with the "triple pressure" and ensure a stable recovery. Bring together the policy synergy of stability From 43 policies issued by 14 departments to help restore the development of the service industry to 20 policies issued by the state office to promote consumption; From reducing the deposit reserve ratio of financial institutions to increasing financial support for smooth logistics and stable industrial chain supply chain; Then 15 in Tianjin, 21 in Shanghai and 47 in Guangdong Recently, a series of policy "combination punches" from the central government to the local government have made every effort to break through the blocking points, continue to promote chain stabilization and chain supplement, and spare no effort to help enterprises get back the delayed progress. The meeting of the Political Bureau of the CPC Central Committee further stressed that "we should adhere to the national game of chess, ensure smooth transportation and logistics, and ensure the normal operation of key industrial chains, supply chains, anti epidemic and supply guarantee enterprises and key infrastructure". The more critical the moment is, the more we should pay close attention to the implementation of policies. At present, the macro, micro, structural, science and technology and other seven major policies deployed at the central economic work conference last year are being refined and implemented. All regions and departments should strengthen policy coordination, deal with many uncertain factors with policy certainty, and form a strong joint force to ensure that the economy operates within a reasonable range. The meeting of the Political Bureau of the CPC Central Committee further proposed that "we should pay close attention to planning incremental policy tools and strengthen contingent regulation". The more critical the moment, the more determined to do their own thing. On April 10, the opinions of the CPC Central Committee and the State Council on accelerating the construction of a national unified market was issued; On April 19, the 25th meeting of the central deep reform commission focused on strengthening the construction of digital government and promoting the reform of financial system below the provincial level; On April 26, the 11th meeting of the central financial and Economic Commission studied the issue of comprehensively strengthening infrastructure construction; On April 29, the Political Bureau of the CPC Central Committee conducted the 38th collective study on standardizing and guiding the healthy development of China's capital according to law Based on the current situation and taking a long-term view, a series of major plans to deepen reform and opening up in the near future have demonstrated China's determination and confidence in anchoring high-quality economic development. Facing the future, China still has many favorable conditions for maintaining long-term, healthy and stable economic development. A solid foundation for development and a stable macroeconomic situation; Great supply potential and continuous adjustment and optimization of industrial structure; The domestic demand space is wide, and the national unified market is steadily constructed; The policy environment is stable, and the cumulative effect of reform in key areas continues to appear By strengthening confidence, doing solid work, earnestly implementing the spirit of the meeting of the Political Bureau of the CPC Central Committee and doing a good job in the current economic work, we will be able to create new achievements in economic development in overcoming difficulties. (Xinhua News Agency)