Several departments, including the National Development and Reform Commission, the Ministry of Finance, the People's Bank of China, and the Ministry of Industry and Information Technology, recently held meetings to implement the spirit of the Central Economic Work Conference and deploy the focus of work for 2024. "Technological innovation", "expanding domestic demand", "deepening reform"... Through these keywords on the key task lists of various departments, new trends in future economic policies can be understood. The Central Economic Work Conference on Leading Industrial Development with "Technological Innovation" has elevated "leading the construction of a modern industrial system with technological innovation" to the top priority of next year's economic work. The work deployment of multiple departments in 2024 is also inseparable from "technological innovation". Based on the work deployment for 2024, the recently held National Conference on Industry and Information Technology has identified 12 key tasks, including "fully promoting stable growth of the industrial economy", "fully implementing high-quality development actions for key manufacturing industry chains", "enhancing industrial technological innovation capabilities", "accelerating the transformation and upgrading of traditional industries", "consolidating and enhancing the leading position of advantageous industries", and "accelerating the cultivation of emerging industries". The Ministry of Science and Technology has also proposed five key tasks, including strengthening the overall coordination of scientific and technological work, and improving the new national system; Focusing on key core technologies related to national development and security, gathering strength to tackle challenges and breakthroughs; Layout forward-looking and leading technologies to cultivate new competitive advantages in future industries; Strengthen the national strategic scientific and technological strength, strengthen the systematic ability of scientific and technological innovation; Deepen the reform of the scientific and technological system, build a policy system and a favorable environment to support high-level scientific and technological self-reliance and self-improvement. Financial and taxation policies will also strongly support technological innovation. The National Financial Work Conference proposed to "fully support winning the battle against key core technologies, ensuring the funding needs of major national science and technology projects, deepening the reform of the allocation and use mechanism of fiscal science and technology funds, and promoting high-level scientific and technological self-reliance and self-improvement.". The Party Committee of the State Administration for Financial Supervision and Administration held an expanded meeting, proposing to improve the quality and efficiency of science and technology finance, and help accelerate the development of new productive forces and the construction of a modern industrial system. "On the one hand, China's economy is in a critical stage of transformation from traditional factor driven to new factor driven by technology, data, and other factors. It is urgent to enhance independent research and development capabilities to improve total factor productivity and seize the major opportunities of the new round of technological revolution. On the other hand, driven by scientific and technological innovation, new quality productivity is accelerating its formation, becoming an important driving force for economic growth and high-quality industrial development." Liang Jing, a researcher at the Bank of China Research Institute, said. The Central Economic Work Conference emphasized the need to focus on expanding domestic demand, stimulate potential consumption, expand effective investment, and form a virtuous cycle of mutual promotion between consumption and investment. Each department actively deploys around expanding domestic demand. The national financial work conference held a few days ago listed supporting the expansion of domestic demand as one of the eight priorities in 2024. It proposed to promote the construction of a unified national market, promote the steady growth of consumption, strengthen the use and management of special bond funds, continue to make good use of additional treasury bond funds, consolidate the basic situation of foreign trade and foreign investment, and support the enhancement of domestic demand initiatives. The National Development and Reform Work Conference will also "further utilize various funds to strengthen project construction, and better..."
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：economic daily
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