After a critical year, the overall operation of the Chinese economy has been stable and steady with progress, and the expected gross domestic product is over 130 trillion yuan. The main goals and tasks of economic and social development for the whole year have been successfully completed. As we welcome the 'Year of Conclusion', we must firmly have the confidence to succeed in doing a good job in economic work. Our country's economic foundation is stable, with many advantages, strong resilience, and great potential. The supporting conditions and basic trends for long-term improvement have not changed We have always grown up in the baptism of wind and rain, and strengthened through trials and tribulations. Everyone should be full of confidence Resolute words, inspiring and motivating. At the end of the year and the beginning of the year, various regions and departments have deeply studied and implemented the spirit of General Secretary Xi Jinping's important speech, conscientiously implemented the decisions and deployments of the Central Economic Work Conference, strengthened confidence, grasped the overall trend, focused on high-quality development, and strived to maintain a good momentum of economic and social development, taking new solid steps towards Chinese style modernization. Stable foundation, steady progress with support, the fastest in the world! The test speed can reach 450 kilometers per hour, and the operating speed can reach 400 kilometers per hour. On December 29, 2024, the CR450 high-speed train prototype was released in Beijing. China's high-speed rail is constantly moving forward. The high-speed rail is speeding, originating from supply support. A high-speed train with over 40000 components, involving more than 10 industries such as electronics, information systems, and precision instruments. More than 100 core enterprises and 2100 related enterprises work together to tackle the problem and turn drawings into reality. The high-speed rail is speeding, driven by demand. The world's largest high-speed rail network is characterized by high altitude, plateau, tropical, and sandstorms, with over 4000 high-speed trains in operation. The demand for high-speed rail from billions of passengers is still upgrading, with higher speeds, safer, more environmentally friendly, more energy-efficient, and smarter, "said a person in charge of China Railway Group. The increase in supply and awesome in demand have combined into new achievements in industrial upgrading: the annual output of new energy vehicles has exceeded 10 million in the world, the first commercial flight of C919 aircraft has only been more than a year, and thousands of orders have been received. New achievements have been made in integrated circuits, artificial intelligence, quantum communications and other fields... In the past year, new quality productivity has developed steadily, and new economic drivers have continued to grow. From January to November 2024, the added value of high-tech manufacturing industries above designated size increased by 9% year-on-year, with a growth rate significantly faster than that of large-scale industries; The investment in high-tech industries increased by 8.8% year-on-year, significantly faster than the overall investment growth rate. China is a super large-scale economy with a large economic volume and market capacity, strong industrial supporting capabilities, and both supply and demand sides can support the domestic circulation. This is the basic basis for the stable and far-reaching development of China's economy Han Wenxiu, Deputy Director in charge of daily work at the Office of the Central Financial and Economic Commission, stated. With a strong physique and muscular physique, the Chinese economy has formed a solid foundation for long-term development. In 2024, we will actively respond to the impact of domestic and international environmental changes, and our economic strength, technological strength, and comprehensive national strength will continue to strengthen - the gross domestic product is expected to exceed 130 trillion yuan; The scale of the manufacturing industry and the international market share of goods exports have consistently ranked first in the world; The total grain output has reached a new level of 1.4 trillion catties for the first time; Crude oil production has rebounded for 6 consecutive years, and natural gas production has increased by over 10 billion cubic meters for 8 consecutive years; Employment prices remain stable... The momentum of 'stability' continues effectively, and the pace of 'progress' is solid and powerful. The solid foundation for development and encouraging achievements have strengthened our determination and confidence to promote Chinese path to modernization. There are many advantages and support for continuous improvement. "Relying on the new policy of Chongqing Housing Provident Fund, a four bedroom apartment with a total price of 2.4 million yuan has reduced the down payment by 120000 yuan and saved about 150000 yuan in loan interest compared to commercial loans during the same period." In Yubei District, Chongqing, citizen Tian Pei and his family selected their desired apartment in a real estate project, "two bedroom for four bedroom, living more spacious." Since late September 2024, a combination of policies has been launched to promote the stabilization of the real estate market, including the cancellation or reduction of purchase restrictions, sales restrictions, price limits, cancellation of ordinary and non ordinary residential standards, and the reduction of loan interest rates and down payment ratios. In October and November 2024, the online signing area for newly built commercial housing transactions increased both year-on-year and month on month for two consecutive months. In 2024, due to various factors, China's economy faced many difficulties and challenges. At critical moments and important nodes, the Central Committee of the Communist Party of China has strengthened macroeconomic regulation and control in accordance with the times and circumstances. In particular, on September 26, 2024, General Secretary Xi Jinping presided over the Central Politburo meeting and timely deployed a package of incremental policies, effectively boosting social confidence and significantly recovering the economy. Since October 2024, major economic indicators have improved and positive changes have increased, effective demand has rebounded rapidly, production and supply growth has accelerated, and market confidence has significantly increased. China has various advantages that most countries do not possess, including the scale advantage and market advantage of a large economy in terms of quantity, as well as the talent advantage, innovation advantage, and social stability advantage in terms of quality. In particular, China has the unique institutional advantage of the leadership of the Party and the socialist market economy system, which supports its strong comprehensive national strength and international competitiveness Han Wenxiu stated. Starting from a new starting point, we need to recognize, grasp, and make good use of our advantages. Implementing more proactive macro policies is precisely one aspect of making good use of advantages. At present, China's inflation rate, fiscal deficit rate, and government debt rate are relatively low, and the policy toolbox reserves are still sufficient. In addition, major economies around the world have entered a cycle of interest rate cuts, which will create greater space for China's policy efforts Zhang Bin, Deputy Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, stated. Complete the task of issuing a quota for the replacement of 2 trillion yuan of implicit debt in stock; Improve the management mechanism of special bonds and expand the investment areas of local special bonds; Further lowering the reserve requirement ratio... Fiscal and monetary policies have been frequently implemented. Lan Fo'an, Minister of Finance, said that this year, we will implement more proactive fiscal policies, continue to make efforts and become more awesome, provide more support for stable growth and structural adjustment, and form a strong pull for economic growth. Pan Gongsheng, President of the People's Bank of China, said that he would increase the intensity of monetary policy regulation, effectively implement the stock policy, and step up efforts to promote the implementation of incremental policies. The advantages of system, demand, supply, and talent have been tested and matured over time. By fully utilizing our unique advantages, we can firmly grasp the initiative in development. Strong resilience and confidence in dealing with risks. In Nanchang, Jiangxi, Jingneng Optoelectronics Co., Ltd., 1 square millimeter LED chips undergo dozens of processes to be packaged into light beads that can be used for car lights. Faced with fierce market competition, we continue to carry out technological research and development. The brightness of our new generation products has increased by 5% to 10%, and our sales are expected to grow by over 30% in 2024 Wang Qiong, Deputy Director of the Strategic Development Department of the company, said that in the new year, we will focus on strengthening research and development of automotive electronic products and further expanding the market. Practice 'internal skills' hard here, and explore' going global 'on the other side. In Luoyang, Henan, three wheeled motorcycle companies are operating at full capacity and rushing to produce orders. Yanshi District has 15 complete vehicle manufacturing enterprises and hundreds of parts enterprises. It only takes 20 minutes to assemble a three wheeled motorcycle, and the annual export value exceeds 600 million yuan. We actively explore overseas markets and customize the production of freight motorcycles, travel wagons, special vehicle models, and other products according to customer needs The relevant person in charge of Luoyang Zhufeng Huaying Three wheeled Motorcycle Co., Ltd. said that the company's orders have been scheduled until March 2025. Business entities are the main participants in China's economic activities, the main providers of employment opportunities, and the main drivers of technological progress. From leading enterprises to specialized, refined, innovative, and "little giant" enterprises, the vast number of business entities dare to explore and innovate, making the Chinese economy more resilient: in the first three quarters of 2024, 20.696 million new business entities were established nationwide; In the first 11 months of 2024, China's total import and export value of goods trade was 39.79 trillion yuan, a year-on-year increase of 4.9%. Han Wenxiu stated that China has a complete industrial system, diverse types of business entities, strong ability to adapt to environmental changes, high household savings rate, and strong ability to adapt to economic fluctuations. "This is the root of China's strong ability to resist risks. Difficulties and challenges arise every year. The current economic operation is facing some new situations, challenges from external environmental uncertainty, and pressures from the transformation of old and new driving forces, but these can be overcome through efforts. As long as we remain calm and take comprehensive measures, the resilient Chinese economy can fully overcome challenges and pressures and continuously reach new heights. On December 26, 2024, with the takeoff of China Eastern Airlines flight MU5428, Chongqing Jiangbei International Airport officially opened its fourth runway with great potential and long-term development momentum. The construction of Terminal 3B at Jiangbei International Airport is also accelerating, aiming to be completed and put into use in the first quarter of 2025. From railways, trunk highways, airports along the Yangtze River, to the Western Land Sea New Corridor and the "Three Norths" project, various regions and departments are coordinating "hard investment" and "soft construction" to solidly promote the "dual" construction. From January to November 2024, infrastructure investment increased by 4.2% year-on-year, with a growth rate 0.9 percentage points higher than total investment. At the same time, the "two new" policies have effectively stimulated consumers' enthusiasm for purchasing in 2024, driving sales of related products such as automobiles, home appliances, home decoration, kitchen and bathroom to over 1 trillion yuan. The significant achievements of the "two new" and "two dual" policies are due to the practical and effective implementation of macro policies, and also reflect the development potential of the world's second largest economy. Potential comes from the release of development potential. Wide investment space. Currently, China has entered the late stage of rapid urbanization development, and there is still room for improvement in the urbanization rate, "said Gao Guoli, director of the Urban and Small Town Reform and Development Center of the National Development and Reform Commission." Farmers settling in cities can not only drive investment demand for infrastructure such as housing and municipal roads, but also generate a large amount of investment demand for public service facilities. "Research has calculated that every 1 percentage point increase in urbanization rate will drive investment demand exceeding 1 trillion yuan." The consumption potential is great. China has a super large market with a population of over 1.4 billion and a middle-income group of over 400 million. The development trend of the consumer market with large capacity, multiple tiers, depth, expansion and quality has not changed, "said Sheng Qiuping, Deputy Minister of Commerce. Targeting potential, implementing comprehensive policies, and taking active actions in all aspects. Yuan Da, Deputy Secretary General of the National Development and Reform Commission, said that this year, we will strengthen construction, strengthen the combination of soft and hard work, accelerate the progress of work, and give greater support to the "dual" construction. This year, we will also significantly increase the size of ultra long term special treasury bond funds, and strengthen the implementation of the "two new" work. Potential also comes from the enhancement of development momentum. Not long ago, the "Overall Plan for Deepening Comprehensive Reform of International Trade in Yiwu City, Zhejiang Province" was released, proposing 97 specific reform measures in 5 aspects, including deepening market procurement and trade reform. In the new round of reform, we will focus on solving the problems of insufficient digital capabilities in export enterprises' trade, 'building platforms for national trial systems, opening up, and seeking development for local areas,' "said Wang Jian, member of the Standing Committee of the Jinhua Municipal Party Committee and Secretary of the Yiwu Municipal Party Committee in Zhejiang. At the Third Plenary Session of the 20th CPC Central Committee, more than 300 major reform initiatives were identified, the construction of a high standard market system was steadily advancing, and the high-quality joint construction of the "the Belt and Road" was deepened and implemented... In 2024, reform and opening up will take a strong step. Reform never stops, opening up never stops. At the end of the year and the beginning of the year, a series of measures were intensively introduced: the draft of the Private Economy Promotion Law was submitted for review, the deepening and upgrading action of state-owned enterprise reform was continuously carried out, and the policy of visa free transit was comprehensively relaxed and optimized... "By further deepening the reform comprehensively and eliminating the shortcomings of various institutional mechanisms, more reform dividends will be released.