Stress on stability and growth as policy for the year ahead

The just-concluded annual Central Economic Work Conference called for efforts to pursue progress while ensuring stability, consolidate stability through progress, and vowed to roll out more policies to stabilize the expectations, growth and employment.

It is worth noting that the overall tone set by the conference for the economy next year continues the policy of pursuing progress while ensuring stability.

The stress on "stability" means the country will prioritize stabilizing the fundamentals of the economy. In the current environment of frequent global geopolitical conflicts and multiple uncertainties, maintaining stability is a prerequisite for economic development.

However, "stability" does not mean stagnation. It means on the basis of stability, deepening reform and opening-up at all levels at a faster pace, starting from accelerating the construction of a new development pattern. Only when the cake becomes bigger and the economy continues to grow, can "stability" be the greatest source of power and confidence.

To better understand "pursuing progress", we should look at various aspects of the decision-making mechanism. The introduction of various policy measures by the central and local governments to promote the integration of domestic and foreign trade is enough to prove their accelerated efforts to deepen reform and opening-up, and promote high-quality development.

It is also worth noting that the conference emphasized scientific and technological self-reliance, which means the country will strengthen innovation and the self-reliant development of science and technology to facilitate its pursuit of high-quality economic development.

In the face of the difficulties and challenges confronting it today, the country must enhance its "awareness of worry", effectively responding to and solving the challenges to promote economic recovery. This will leave space for "pursuing progress".

On the whole, the favorable conditions facing China's development outweigh the unfavorable factors, and the Chinese economy's basic trend of recovery and long-term upward development has not changed. What the country now urgently needs is to recover and enhance confidence.