Ruling authority renews push to achieve goals this year

China will "stabilize and improve its macroeconomic policies" and deepen reforms to achieve its economic and social development goals this year, according to a statement released after a key meeting on Feb 21.

The nation will continue to adopt proactive and prudent fiscal and monetary policies, according to the statement by the Political Bureau of the Communist Party of China Central Committee.

The meeting was presided over by President Xi Jinping, who is also China's Party chief.

Coordination of industrial, regional, investment, consumption, price, land and environmental protection policies will be strengthened, and reforms in key fields will be deepened to achieve better results. Innovation will be promoted to help improve the efficiency of the economy and release domestic growth potential.

The meeting highlighted the significance of 2017, as the 19th CPC National Congress will convene later in the year.

Acknowledging that China has made a strong start toward the objectives of the 13th Five Year Plan (2016-20), the meeting called for further efforts to balance multiple economic tasks this year, including stabilizing growth, advancing reforms, pushing restructuring, improving people's livelihoods and preventing risks.

The meeting was held ahead of the so-called two sessions - the annual meetings of the country's top legislature and political advisory body that will be held in early March.

Supply-side structural reforms will be further pushed, and people's livelihoods should be improved, the statement from the meeting says.

It was also decided that China will push the supply-side reform of agriculture to ensure healthy growth and increased income for farmers, and that the government should improve governance to "better serve the people".

According to the statement, 247 Party organizations have been inspected by teams from the Central Commission for Discipline Inspection, the Party's top anti-graft agency, since the inspection effort was launched in 2013. The inspections, which focus on sticking to the Party's leadership, have functioned as a "political microscope" and a "political searchlight", under which supervision of following the Party's rules has been enhanced, says the statement.

"The meeting highlighted the most important tasks for China this year," says Liang Haiming, chief economist of the China Silk Road iValley Research Institute. "It highlights reform, innovation and people's livelihoods."

It is a must for China to carry out further reforms because the international situation is changing rapidly, Liang says.

Contact the writers at anbaijie@chinadaily.com.cn.