On October 23, the Commission for Financial and Economic Affairs of the CPC Sichuan Provincial Committee held its eighth meeting. Wang Xiaohui, Secretary of the CPC Sichuan Provincial Committee and Director of the Commission, chaired and addressed the meeting. He emphasized the need to thoroughly implement the spirit of General Secretary Xi Jinping's important speech on the current economic situation and economic work, which was delivered at the meeting held by the Political Bureau of the CPC Central Committee, fully implement the package of incremental policies recently issued by the Party Central Committee and the State Council, work hard with a firm focus on the set goals and determination to win the battle in the fourth quarter, strive to accomplish the economic and social development targets and tasks for this year, and firmly assume the responsibility of a major economic province.

Shi Xiaolin, Deputy Secretary of the CPC Sichuan Provincial Committee, Governor of the People's Government of Sichuan Province, and Deputy Director of the Commission for Financial and Economic Affairs of the CPC Sichuan Provincial Committee, attended and addressed the meeting.

During the meeting, attendees heard reports on the implementation of the arrangements made in the seventh meeting of the Provincial Commission for Financial and Economic Affairs, the overall economic performance of the province and Chengdu city in the first three quarters, and the measures taken to implement the package of incremental policies recently issued by the Party Central Committee and the State Council, analyzed and assessed the current economic situation, and made arrangements for the next steps in economic work. Additionally, they discussed accelerating the high-quality development of the province's digital economy, with the reform related to the market-based allocation of data elements as the main task, along with other work.

At the meeting, it was noted that since the start of the year, the province's economy has progressed despite challenges, and the first three quarters have seen a rise in positive economic factors and shown a trend of steady improvement, thanks to the proactive actions and collaborative efforts in addressing difficulties by various regions and departments across the province, which has laid a solid foundation for economic work in the fourth quarter. At the same time, it is necessary to take a sober view that the foundation for the province's sustained and stable economic growth is not yet firmly established. Recently, a package of national-level incremental policies has been introduced, significantly boosting market confidence and enhancing social expectations. In particular, as a range of national strategies is being implemented more deeply, there is sustained optimism regarding the development prospects of Sichuan, offering us new opportunities to secure national support and attract high-end elements. The entire province must fully implement the decisions and arrangements of the Party Central Committee without any compromise, seize the momentum, and prioritize actions, go all out to boost the economy and advance construction, develop new quality productive forces in line with local conditions, unswervingly promote high-quality development, continuously strengthen the foundation for stability, fully unleash the momentum for progress, and sustainably consolidate and reinforce the positive trend of our province's economic recovery and growth.

The meeting pointed out the need to closely focus on accomplishing the targets and tasks set for this year and exert every effort to stabilize economic growth. We will solidify the trend of consumption recovery, consistently and deeply promote trade-ins of consumer goods, actively organize a series of promotional activities to boost consumption, and effectively unleash consumer demand across all levels. We will boost the vitality and potential of investment, expedite the construction progress of key projects, encourage private capital involvement in major projects, key industrial and supply chains, and additional initiatives, and spur companies to increase their spending on equipment renewals and technological renovations, thereby generating a considerable volume of tangible outputs at a faster pace. We will promote steady improvements in foreign trade and investment, thoroughly execute the "Sichuan Global Outreach" market expansion initiatives, actively nurture the growth of emerging sectors such as cross-border e-commerce, overseas warehousing, and bonded maintenance services, and exert greater efforts to attract and effectively utilize foreign capital.

The meeting emphasized the need to proactively align with the package of incremental policies introduced by central authorities and refine the specific measures to guarantee their practical and effective implementation. Efforts will be made to promote the effective implementation of financial policies, guide a steady reduction of the comprehensive cost associated with social financing, enhance credit allocation, and support the listing of outstanding companies to boost their development. Efforts will be made to promote the effective execution of fiscal policies, align with and implement the expanded use of local government special bonds and other novel management measures, and timely allocate the capital raised through the ultra-long special treasury bonds to support the implementation of major national strategies, the building up security capacity in key areas, the large-scale equipment renewals, and the trade-ins of consumer goods, thereby providing a robust foundation for economic growth. Efforts will be made to promote the effective implementation of real estate policies, expand the "white list" mechanism in an orderly manner, push for the punctual deliveries of presold homes, support the acquisition of existing commercial housing for conversion into government-subsidized housing, and work to establish a new development mode for the real estate market. Efforts will be made to promote the effective implementation of policies that benefit enterprises, address their challenges and difficulties from all angles, improve services tailored to the needs of micro, small, and medium enterprises, work tirelessly to establish a first-class business environment, and further bolster the confidence of business entities.

The meeting pointed out the need to reinforce industrial support and expedite the establishment of a modernized industrial system. We need to accelerate the digital conversion of various industrial sectors, prioritize the reform related to the market-based allocation of data elements as the main task, vigorously execute the actions for full coverage of the digital transformation and intelligent upgrading of industrial enterprises above the designated size, build more digital infrastructure and multi-domain application demonstration scenarios, thereby striving to secure a high ground in future developments. We need to advance high-quality investment promotion initiatives, enhance policy direction, business environment cultivation, and service innovation, increase the coordination of resources and projects, promote inter-regional and inter-city (prefecture) collaboration in investment attraction, ensuring that each area identifies and leverages its unique strengths for complementary and collaborative investment endeavors, focus on key industrial chains and clusters to extend, supplement, and strengthen these chains, optimize the industrial ecosystem on all fronts, and continuously improve the regional competitive edge in investment.

The meeting emphasized the need to concentrate on the central theme of high-quality development and modernization, commence planning for next year's economic work promptly, establish realistic and achievable targets through a scientific approach, identify and rectify any deficiencies to improve our measures, and strive to comprehensively accomplish the objectives and tasks outlined in the 14th Five-Year Plan (2021-2025). The compilation of the 15th Five-Year Plan (2026-2030) plan must be meticulously executed. We need to align closely with the broader development trends and the strategic objectives of the provincial Party committee, integrate short-term and long-term considerations, balance requirements with feasible options, and scientifically formulate the general strategy, key principles, and specific goals for the economic and social development of our province during the 15th Five-Year Plan period, and envision and plan for a batch of major initiatives that both establish a robust foundation and contribute to sustainable long-term progress. Ensuring development and security is crucial. We must strictly adhere to workplace safety standards, step up efforts to identify and rectify potential safety risks, reinforce autumn and winter forest and grassland fire prevention and control measures, diligently address the feedback issues from the central ecological and environmental protection inspection and the handling of the public complaints transferred to us, strengthen social governance and ensure the people's wellbeing, efficiently prevent and defuse various risks and challenges, and steadfastly maintain social stability across the province.

Members of the Commission for Financial and Economic Affairs of the CPC Sichuan Provincial Committee, relevant provincial leaders, and heads from relevant provincial departments and central units stationed in Sichuan attended the meeting.