Interpretation of the central economic work conference in 2021: short-term stable growth, medium and long-term transformation foundation consolidation

event

The 2021 central economic work conference was held in Beijing from December 8 to 10. The conference summarized the economic work in 2021, analyzed the current economic situation and deployed the economic work in 2022.

Main points

The economic environment in 2022 is still complex and changeable. Internally, the internal economic cycle faces triple pressures of shrinking demand, supply shock and weakening expectation. Although there is the impact of the epidemic, the pain of "three-phase superposition" is the main cause. Externally, the international situation is changing, and the external environment is still grim and complex. The global economy fluctuates at a low level, competition is a long-term pattern, and the international situation is difficult to reverse in the short term. The uncertainty of the epidemic situation and whether a series of economic and political problems will bring new geopolitical risks also deserve attention. The downward pressure on China's economy has increased, and maintaining reasonable economic growth is an inevitable choice to continue to do a good job in the "six stabilities" and "six guarantees", improve people's livelihood and stabilize the basic economic plate. Therefore, next year, the economic work will be set with a stable tone, strive for progress while maintaining stability, put forward that the policy force should be moderately advanced, pay more attention to policy synergy and give full play to policy energy efficiency. At the same time, the reform focusing on long-term goals has been actively promoted in key areas such as capital elements, scientific and technological innovation, internal circulation and common prosperity. 2022 will be the key period for important measures during the 14th Five Year Plan period. On the whole, although the short-term tends to steady growth and counter cyclical adjustment, the cross cyclical adjustment taking into account the short-term and long-term is still the policy background. The general tone of risk prevention remains unchanged. Under the pressure of steady growth, the meeting reduced the expression of risk prevention, but stressed that we should continue to do a good job in risk disposal in accordance with the principles of stabilizing the overall situation, overall coordination, classified policy implementation and accurate bomb dismantlement. The importance of risk prevention remains prominent. Doing a good job in risk prevention, control and disposal in key areas and key areas is conducive to providing more policy room for short-term stable growth and long-term transformation.

 

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