What signal does the new formulation release? Expert interpretation of the Central Economic Work Conference

2023-12-14

The Central Economic Work Conference was held in Beijing from December 11th to 12th. At this meeting, when mentioning the overall requirements for economic work next year, in addition to "seeking progress while maintaining stability", it was also proposed for the first time to "promote stability through progress, establish first and then break through". What signals does the new formulation and expression release? What is the meaning behind it? Take a look at the expert's interpretation. The meeting requires that next year, we must adhere to the principles of seeking progress while maintaining stability, promoting stability through progress, and implementing policies that are conducive to stabilizing expectations, growth, and employment. We must actively strive to transform our approach, adjust our structure, improve quality, and increase efficiency, continuously consolidating the foundation of stability and improvement. Zhu Min, Vice Chairman of the China Center for International Economic Exchange: Promoting stability through progress is a dynamic balance that requires a proactive attitude. We are driving growth through structural changes now, rather than long-term growth driving structural changes in the past. So this itself is an "advance", structural change is an "advance", only by "advance" can there be growth and stability. Experts say that last year's Central Economic Work Conference called for "stability as the top priority, seeking progress while maintaining stability", while this year's emphasis is on "seeking progress while maintaining stability, promoting stability through progress, and establishing before breaking through". This indicates that next year's economic work will place greater emphasis on actively promoting economic stabilization and recovery through further optimization of economic structure and transformation of development mode. Experts point out that "establishing before breaking" is the methodology for next year's economic work, ensuring the smooth progress of various tasks such as mode transformation, structural adjustment, quality improvement, and efficiency enhancement. Dong Yu, Executive Vice President of the China Development Planning and Research Institute at Tsinghua University: By grasping the relationship between "progress" and "stability" and proposing development goals and tasks from a more dialectical and proactive attitude, it is actually a requirement to solve the difficulties and challenges of progress through development methods. So at the same time, "standing first and breaking later" also means that all work must have a sequence, so we need to promote more coordination between various tasks, so that the work throughout the year can overcome various obstacles. (Lai Xin She)

Edit:Hou Wenzhe    Responsible editor:WeiZe

Source:economic daily

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