The Priority Is‘Soundness’.docVIP

The Priority Is?Soundness? uChina?s annual Central Economic Work Conference, which ended in Beijing on December 7, emphasized that the country should give priority to the soundness of economic operations instead of the growth rate in the future. Comparing the quality-first approach with the previous focus on GDP growth, a Xinhua News Agency commentary hails the adjustment as a significant change in the development strategy of the country. It has been put forward in the Central Economic Work Conference that China?s economy is to be developed in a sound and rapid way, where “soundness” is particularly stressed, different from the past emphasis on the growth rate. The emphasis on “soundness” represents an overhaul of China?s development mode, that is, a change from the stress on speed to that on efficiency and quality. To develop the economy in a “sound and rapid” way is not only the priority of the coming year?s economic work but is also the basic guideline for China?s economic development in the future. The proposal to develop China?s economy in a sound and rapid way has set up a new standard for the country?s development. While highlighting efficiency and quality, it also stresses energy conservation and environmental protection, and while macroeconomic growth is emphasized, more efforts are called to help the people gain tangible benefits from the increase of national wealth. “Sound development” places great importance on “coordinated” economic growth, that is, to harmonize the relationship among speed, quality and efficiency, among consumption, investment and exports, and among population, resources and the environment. The concept of “sound and rapid” economic growth is an innovation made on the basis of years of experience in China?s economic growth, which also enriches the people-first outlook on development. For quite a long time in the future, given the actual situation in China?s economic development, “soundness” will be more important than the