President Xi calls for long-term view on economy

Baku, May 25, AZERTAC

President Xi Jinping called on Saturday for a long-term perspective to deal with the current difficulties, risks and challenges facing China's economy and to boost confidence in the country's development, according to China

The country's huge economic potential is unchanged despite the challenges ahead, and the government has numerous policy tools to promote economic development, he said.

Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remarks while joining political advisers from the economic sector at a panel discussion during the third session of the 13th National Committee of the Chinese People's Political Consultative Conference.

What Xi says

- Efforts should be made to foster new opportunities amid challenges and make new advances amid changes.

- It is necessary to take active measures to enhance confidence in the whole of society, and particularly among market players, and to consolidate China's economic stability and good long-term development.

- China's economy is still characterized by ample potential, strong resilience, large maneuver room and sufficient policy instruments.

- China's economy is in a pivotal stage for transforming the growth model, improving economic structure, and fostering new growth drivers.

- Economic operation now faces relatively heavy pressure due to difficulties and challenges caused by intertwined structural, institutional and cyclical problems, which have been compounded by the COVID-19 outbreak.

- China has the largest industrial system in the world with the most complete categories, strong production capabilities, comprehensive supporting sectors, as well as over 100 million market entities and a talent pool of 170 million people.

- China's development will focus more on satisfying domestic market demand and the country will speed up building a complete system for domestic demand.

- Unwavering efforts should be made to make economic globalization more open, inclusive and balanced so that its benefits are shared by all, and to build an open world economy.

- The government will take more measures to stabilize employment, guarantee the basic livelihood of the poor, help small and medium-sized enterprises get over difficulties, stabilize food production, ensure the stable supply of coal, electricity, gasoline and natural gas, maintain the stability of industrial chains and supply chains, and ensure the supply of public services at the grassroots level.

- More steps should be taken to maintain the security of industrial and supply chains, and to forestall and defuse major risks.

- The fundamental role of agriculture should not be neglected or undermined at any time.

- The stable supply of food contributed greatly to the country's stability in the face of the novel coronavirus outbreak.

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