Xi requires emphasis on economy

Push needed to ensure the plan of building a strong socialist country

General Secretary Xi Jinping has highlighted the importance of real economies and urged development of a modernized economy to push the country's development to a new level.

Xi, general secretary of the Communist Party of China Central Committee, made the remark while presiding over the third group study of the Political Bureau of the 19th CPC Central Committee on Tuesday.

Building a modernized economy is a strategic goal of China's development, and it is also an urgent need to change the mode of the country's development, improve its economic structure and change the propelling power of economic growth, Xi said.

The general secretary required the whole Party to better understand the importance and difficulties of building a modernized economy, handle the goals and key points of building a modernized economy in a scientific manner, and push the country's economic development to a new level.

During the group study, members of the Political Bureau exchanged their views about building a modernized economy. Liu He, Sun Chunlan, Li Xi, Li Qiang, Li Hongzhong, Chen Quanguo, Chen Min'er, Hu Chunhua and Cai Qi made speeches on the topic.

Xi pointed out that building a modernized economy is a great strategic arrangement made by the CPC Central Committee from an overall vision of the Party and country's works.

To build a strong nation, the Party must build a strong economy, Xi said, adding that only by building a modernized economy will the country gain the initiative in global competition.

He urged an acceleration in building a modernized economy to ensure that the goal of building a strong socialist country will be fulfilled as it was planned.

Building a modernized economy is a comprehensive project involving different procedures, sectors and fields of the social economy, Xi said.

He highlighted the importance of coordinated development of real economies, scientific innovation, modern finance and human resources, so that scientific innovation contributes more to real economies, and modern finance as well as human resources better support real economies.

Xi required establishment of a unified, open, competitive and orderly market system, and acceleration in the building of a modernized economy with fair competition and free flow of commodities and market elements.

He urged the building of an income distribution system with the focus on both efficiency and equality as a way to produce reasonable income distribution, social justice, the common wealth of the whole people, wider coverage of basic public services and a narrower income gap.

Xi also required coordination of urban-rural development, protection of the environment, construction of open economies at a higher level, and making both the market and the government function well.

China should not only learn the best practices of developed countries in building a modernized economy but also make sure they are used in accord with the country's own situation, Xi said.

Noting that real economies are the fundamental source for the creation of wealth, Xi vowed to deepen supply-side structural reform, speed up building advanced manufacturing, and push the deep integration of the internet, big data and artificial intelligence.

Xi stressed that the strategy of innovation-driven development must be implemented at a faster pace. He required enhancement in building a national innovation system and strengthening strategic scientific forces.

Xi highlighted integrated development between rural and urban areas. The coordinated development of Beijing, Tianjin and Hebei province should be pushed, the development of the Yangtze River Economic Belt should be promoted and the development of the Guangdong-Hong Kong-Macao Greater Bay Area should be pushed in a coordinated manner, he said.

The general secretary urged building open economies, improving the competitiveness of modernized economy, making full use of global resources and markets, and promoting international cooperation under the Belt and Road framework.