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China to accelerate creating new development pattern, pursue high-quality development: Xi

Date: 2022-10-17
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China will accelerate creating a new development pattern and pursue high-quality development, Xi Jinping said on Sunday.

'To build a modern socialist country in all respects, we must, first and foremost, pursue high-quality development,' Xi said in a report at the opening session of the 20th National Congress of the Communist Party of China.

'We must fully and faithfully apply the new development philosophy on all fronts, continue reforms to develop the socialist market economy, promote high-standard opening up, and accelerate efforts to foster a new pattern of development that is focused on the domestic economy and features positive interplay between domestic and international economic flows,' Xi said.

China will make sure that the implementation of the strategy to expand domestic demand is integrated with the efforts to deepen supply-side structural reform, Xi said. Efforts will be made to boost the dynamism and reliability of the domestic economy while engaging at a higher level in the global economy.

The country will move faster to build a modernized economy, Xi said.

China will raise total factor productivity, make industrial and supply chains more resilient and secure, and promote integrated urban-rural development and coordinated regional development, so as to effectively upgrade and appropriately expand economic output, Xi said.

Efforts will be made to build a high-standard socialist market economy, Xi said. 'We will work to see that the market plays the decisive role in resource allocation and that the government better plays its role.'

The industrial system will be modernized, with measures to advance new industrialization, and boost China's strength in manufacturing, product quality, aerospace, transportation, cyberspace, and digital development, Xi said.

To advance rural revitalization across the board, China will continue to put agricultural and rural development first, consolidate and expand achievements in poverty alleviation, and reinforce the foundations for food security on all fronts.

China will thoroughly implement the coordinated regional development strategy, major regional strategies, the functional zoning strategy, and the new urbanization strategy, Xi said.

High-standard opening up will also be promoted. China will steadily expand institutional opening up with regard to rules, regulations, management, and standards, accelerate the transformation into a trader of quality, and promote the high-quality development of the Belt and Road Initiative, Xi said.


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