China determines economic priorities for 2024

The annual economic work conference was held in Beijing from 11 to 12 December to set priorities for 2024.

Chinese President Xi Jinping reviewed economic work in 2023 and set tasks for next year. This is reported by China Daily, a partner of TV BRICS.

The conference also called for policies that promote economic growth and employment.

During the conference, leaders pointed out the need to strengthen counter-cyclical and cross-cyclical macro policy adjustment and pursue an active monetary policy.

The meeting emphasised the importance of supporting scientific and technological innovation and the development of the manufacturing sector. It also called for efforts to ensure a continuous reduction in overall financing costs and keep the RMB exchange rate basically stable at a reasonable and balanced level.

Xi said it is necessary to strengthen the implementation of macroeconomic policies, coordination in fiscal, monetary, employment, industrial, regional, science and technology and environmental policies.

The meeting listed priorities in various aspects:

• Scientific and technological innovation should lead to the development of a modern industrial system;

• Risks in key areas should be taken to prevent and neutralise in a permanent and effective manner;

• Develop the agriculture sector;

• Promote integrated urban and rural development and coordinated regional development;

• More efforts should be made to preserve the environment and promote green and low-carbon development;

• Improve the living conditions of citizens.