20 15 the central economic work conference was held in Beijing on 20 15 12 18. Summarize the economic work in 20 15 years, analyze the current economic situation at home and abroad, and deploy the economic work in 20 16 years. The key point is to implement the requirements of the 13 th Five-Year Plan, promote structural reforms and promote sustained and healthy economic development. The meeting pointed out that since the beginning of this year, in the face of the complicated international situation and arduous and arduous tasks of domestic reform, development and stability, we have implemented the decision-making arrangements of last year's Central Economic Work Conference in accordance with the requirements of coordinating and promoting the "four comprehensive" strategic layout, strengthened and improved the party's leadership over economic work, adhered to the general tone of striving for progress while maintaining stability, firmly grasped the initiative of economic and social development, actively adapted to the new normal of economic development, properly responded to major risks and challenges, and promoted economic, political, cultural and social construction. The economic operation is generally stable, progressing steadily and improving steadily. The economy has maintained medium-high growth, the economic structure has been optimized, the reform and opening up have been deepened, people's livelihood has continued to improve, and the overall social situation has been stable. The completion of the major objectives and tasks this year marks the successful conclusion of the Twelfth Five-Year Plan, and also marks that China has entered a higher stage of development. At the same time, due to various factors and changes in the domestic and international situation, economic development still faces some prominent contradictions and problems, which must be highly valued and solved by effective measures. The meeting held that understanding the new normal, adapting to the new normal and leading the new normal are the great logic of China's economic development at present and in the future. This is a major judgment made by us through a comprehensive analysis of the long-term characteristics of the world economy and China's development stage and their interaction. We should unify our thinking, deepen our understanding, and effectively unify our thoughts and actions with the major judgments and decision-making arrangements of the CPC Central Committee. We must overcome difficulties, break through obstacles and adhere to dialectics. On the one hand, the fundamentals of China's economic development are good, with great potential, strong resilience and great room for manoeuvre. On the other hand, we also face many difficulties and challenges, especially structural overcapacity. This is a historical juncture that cannot be bypassed. Accelerate reform and innovation, do a good job, and you will be able to pass the customs smoothly. We must be determined to reform, boldly innovate, emancipate our minds, seek truth from facts, keep pace with the times, make innovative generalizations in theory according to the development concept of innovation, coordination, green, openness and enjoyment, make forward-looking arrangements in policies, intensify structural reforms, correct the distortion of factor allocation, expand effective supply, improve the adaptability and flexibility of supply structure, and improve total factor productivity. The meeting pointed out that to lead the new normal of economic development, efforts must be made to shift the focus of all work. To promote economic development, we should pay more attention to improving the quality and efficiency of development. In order to stabilize economic growth, we should pay more attention to supply-side structural reform. To implement macro-control, we should pay more attention to guiding market behavior and social psychological expectations. Adjust the industrial structure, pay more attention to addition, subtraction, multiplication and division. To promote urbanization, we should pay more attention to people-oriented. To promote regional development, we should pay more attention to the spatial balance between population economy and resources and environment. To protect the ecological environment, we should pay more attention to promoting the formation of green production mode and consumption mode. To ensure the improvement of people's livelihood, we should pay more attention to the precise assistance to the special difficulties of specific people. In terms of resource allocation, we should pay more attention to making the market play a decisive role in resource allocation. To expand opening to the outside world, we should pay more attention to promoting high-level two-way opening. The meeting emphasized that promoting supply-side structural reform is a major innovation to adapt to and lead the new normal of economic development, an active choice to adapt to the new situation of comprehensive national strength competition after the international financial crisis, and an inevitable requirement to adapt to the new normal of China's economic development. The meeting pointed out that next year is the first year of the decisive stage of building a well-off society in an all-round way, and it is also a crucial year to promote structural reform. To do a good job in economic work, we should fully implement the spirit of the 18th National Congress of the Communist Party of China and the Third, Fourth and Fifth Plenary Sessions of the 18th National Congress, take Deng Xiaoping Theory, Theory of Three Represents and Scientific Outlook on Development as the guidance, strengthen and improve the Party's leadership over economic work, make overall plans for both domestic and international situations, and firmly establish and implement innovative, coordinated, green, open and enjoyable development in accordance with the overall layout of "five in one" and the strategic layout of "four comprehensiveness". Adapt to the new normal of economic development, adhere to reform and opening-up, adhere to the general tone of striving for progress while maintaining stability, adhere to stabilizing growth, adjusting structure, benefiting people's livelihood and preventing risks, implement the general idea that macro policies should be stable, industrial policies should be accurate, micro policies should be flexible, reform policies should be realistic, and social policies should be bottomed out, keep the economy running in a reasonable range, persist in fighting a protracted war strategically, fight a good battle of annihilation tactically, and strive to strengthen structural reforms while moderately expanding aggregate demand. De-capacity, de-inventory, de-leverage, cost reduction and short-board, improve the quality and efficiency of supply system, improve the effectiveness of investment, accelerate the cultivation and development of new kinetic energy, transform and upgrade traditional comparative advantages, enhance the momentum of sustained growth, promote the overall improvement of China's social productivity, and strive to achieve a good start in economic and social development during the 13 th Five-Year Plan period. The meeting stressed that next year and in the coming period, while moderately expanding aggregate demand, efforts should be made to strengthen supply-side structural reforms and implement the five policy pillars that cooperate with each other. First of all, a stable macroeconomic policy is to create a stable macroeconomic environment for structural reform. The proactive fiscal policy should be intensified, the tax reduction policy should be implemented, and the fiscal deficit ratio should be improved in stages. While appropriately increasing the necessary fiscal expenditure and government investment, it is mainly used to make up for the fiscal reduction brought about by tax reduction and ensure the government's expenditure responsibility. A prudent monetary policy should be flexible and moderate, create a suitable monetary and financial environment for structural reform, reduce financing costs, maintain reasonable and sufficient liquidity and moderate growth of total social financing, expand the proportion of direct financing, optimize the credit structure, and improve the exchange rate formation mechanism. Second, to be accurate in industrial policy is to accurately locate the direction of structural reform. It is necessary to promote agricultural modernization, speed up the construction of manufacturing power, speed up the development of service industry, and improve the level of infrastructure networking. And promote the formation of new growth points. We must adhere to the drive of innovation, focus on activating the stock, focus on filling shortcomings, accelerate green development, and develop the real economy. Third, the micro-policy should be alive, that is, improving the market environment and stimulating the vitality of enterprises and the potential of consumers. Do a good job in enterprise service, create a relaxed market operation and investment environment from the system and policy, encourage and support the innovation and development of enterprises of various ownership, protect the property rights and legitimate interests of enterprises of various ownership, enhance their investment confidence and improve market expectations. It is necessary to create a market environment in which goods can flow freely and exchange on an equal footing, and get rid of market barriers and local protection. We must improve the effective supply capacity and expand consumer demand by creating new supply and improving the quality of supply. Fourth, the reform policy should be realistic, that is, we should intensify efforts to promote reform. It is necessary to improve the implementation mechanism, do a good job in the pilot reform, strengthen overall coordination, mobilize local enthusiasm, allow local differentiated exploration, and give play to grassroots initiative. We must dare to bite hard bones and risk the beach, do a good job in the implementation of reform measures, let the reform continue to see practical results, and let the masses have more sense of gain. Fifth, social policies should be bottomed out, that is, keeping the bottom line of people's livelihood. It is necessary to give full play to the role of social security as a social stabilizer, focus on supporting the bottom, and ensure the basic livelihood and basic public services of the people. The meeting held that the task of economic and social development, especially structural reform, is very heavy next year. Strategically, we should persist in striving for progress steadily, grasp the rhythm and intensity, and grasp the key points tactically, mainly focusing on five tasks: de-capacity, de-inventory, de-leverage, cost reduction, and short-boarding. First, actively and steadily resolve overcapacity. It is necessary to study and formulate a comprehensive supporting policy system in accordance with the way of enterprise subject, government promotion, market guidance and legal disposal, and properly handle the relationship between maintaining social stability and promoting structural reform according to local conditions. It is necessary to create conditions for the implementation of market-oriented bankruptcy procedures according to law and speed up the trial of bankruptcy liquidation cases. It is necessary to put forward and implement policies such as fiscal and taxation support, disposal of non-performing assets, reemployment and living security for the unemployed, and special awards and subsidies, and the capital market should cooperate with the merger and reorganization of enterprises. It is necessary to do more mergers and acquisitions, less bankruptcy and liquidation, and do a good job in the resettlement of employees. It is necessary to strictly control the increment to prevent new overcapacity. Second, help enterprises reduce costs. It is necessary to carry out actions to reduce the cost of enterprises in the real economy and play a "combination boxing". It is necessary to reduce institutional transaction costs, transform government functions, simplify administration and decentralize power, and further clean up and standardize intermediary services. It is necessary to reduce the tax burden of enterprises, further clean up taxes and fees, clean up all kinds of unreasonable charges, create a fair tax burden environment, and study and reduce the manufacturing value-added tax rate. It is necessary to reduce social insurance premiums and study streamlining and merging "five insurances and one fund". To reduce the financial cost of enterprises, the financial sector should create a policy environment of interest rate normalization and make profits for the real economy. It is necessary to reduce electricity prices, promote the market-oriented reform of electricity prices, and improve the linkage mechanism of coal and electricity prices. It is necessary to reduce logistics costs and promote the reform of the circulation system. Third, resolve the real estate inventory. According to the requirements of accelerating the urbanization rate of registered population and deepening the reform of housing system, we should stabilize the real estate market by accelerating the urbanization of migrant workers, expanding effective demand, opening up supply and demand channels, digesting inventory and other measures. It is necessary to implement the reform plan of the household registration system, allow non-registered population such as agricultural transfer population to settle in the employment place, and let them form the expectation and demand of buying a house or renting a house in the employment place for a long time. It is necessary to clarify the direction of deepening the reform of the housing system, take meeting the housing needs of new citizens as the main starting point, and establish a housing system with both purchase and rent as the main direction, and expand public rental housing to non-registered population. It is necessary to develop the housing rental market, encourage natural persons and various institutional investors to buy existing commercial housing and become housing providers in the rental market, and encourage the development of specialized enterprises with housing rental as their main business. It is necessary to encourage real estate development enterprises to adjust their marketing strategies according to market rules, appropriately reduce commodity housing prices, promote mergers and acquisitions of the real estate industry, and improve industrial concentration. It is necessary to abolish outdated restrictive measures. Fourth, expand effective supply. It is necessary to fight the tough battle against poverty, adhere to precise poverty alleviation and poverty alleviation, aim at the poverty-stricken people who have set up files, and increase investment in funds, policies and work. And strive to improve the quality of poverty alleviation. It is necessary to support technological transformation and equipment renewal of enterprises, reduce the debt burden of enterprises, innovate financial support methods, and improve the investment capacity of technological transformation of enterprises. Cultivate and develop emerging industries and accelerate innovation in technology, products and formats. It is necessary to fill the shortcomings of soft and hard infrastructure, improve the effectiveness and accuracy of investment, and promote the formation of a market-oriented and sustainable investment mechanism and operation mechanism. It is necessary to increase investment in people so that workers can better adapt to the changed market environment. We will continue to do a good job in agricultural production, ensure the effective supply of agricultural products, ensure the safety of rations, ensure the steady growth of farmers' income, strengthen the construction of agricultural modernization infrastructure, implement the strategy of storing grain on the ground and storing grain in technology, and focus on protecting and improving the comprehensive agricultural production capacity and the quality and efficiency of agricultural products. Fifth, prevent and resolve financial risks. Credit default should be dealt with according to law. It is necessary to effectively resolve local government debt risks, do a good job in replacing local government stock bonds, improve full-caliber government debt management, and improve the issuance methods of local government bonds. It is necessary to strengthen all-round supervision, standardize all kinds of financing behaviors, promptly carry out special rectification of financial risks, resolutely curb the spread of illegal fund-raising, strengthen risk monitoring and early warning, properly handle risk cases, and resolutely hold the bottom line that no systematic and regional risks will occur. The meeting stressed that to promote structural reforms, we must rely on comprehensive deepening of reforms. It is necessary to intensify reforms in important areas and key links and launch a number of reform measures with strong traction. Vigorously promote the reform of state-owned enterprises, accelerate the reorganization and formation of state-owned capital investment and operation companies, and accelerate the reform of monopoly industries. It is necessary to speed up the reform of the fiscal and taxation system, grasp the division of powers and expenditure responsibilities between the central and local governments, improve the local tax system, enhance local development capabilities, and reduce the burden on enterprises. It is necessary to speed up the reform of the financial system, form a stock market with complete financing function, solid basic system, effective market supervision and full protection of investors' legitimate rights and interests as soon as possible, and promptly study and put forward a reform plan for the financial supervision system; Accelerate the reform of the banking system, deepen the reform of state-owned commercial banks, and accelerate the development of green finance. It is necessary to speed up the reform of the old-age insurance system, improve individual accounts, adhere to actuarial balance, and improve the overall level. It is necessary to speed up the reform of the medical and health system, and on the basis of ensuring the basics and strengthening the grassroots, focus on establishing new institutional mechanisms to solve the problems of difficult and expensive medical treatment for the masses. The meeting pointed out that it is necessary to continue to do a good job in optimizing the regional layout of opening up, promoting foreign trade, actively utilizing foreign capital, strengthening international cooperation in production capacity and equipment manufacturing, accelerating negotiations on free trade zones and investment agreements, and actively participating in global economic governance. It is necessary to improve the environment for utilizing foreign capital, attach great importance to protecting the legitimate rights and interests of foreign-funded enterprises, attach great importance to protecting intellectual property rights, and treat domestic and foreign-funded enterprises equally and fairly. It is necessary to do a good job in the implementation of the "Belt and Road" construction, give full play to the financing support role of institutions such as AIIB and Silk Road Fund, and do a good job in landing major landmark projects. The meeting stressed that it is necessary to adhere to the goal of building a well-off society in an all-round way, firmly grasp the top priority of development, scientifically determine the main expected goals of economic and social development, grasp the balance between steady growth and structural adjustment, stabilize and improve macroeconomic policies, and increase support for the real economy. Persist in vigorously promoting structural reforms and focus on solving deep-seated problems that restrict development. Adhere to the in-depth implementation of the innovation-driven development strategy, promote mass entrepreneurship and innovation, and rely on reform and innovation to accelerate the growth of new kinetic energy and the transformation and upgrading of traditional kinetic energy. It is necessary to tap the potential of domestic demand with new ideas and measures, continue to expand consumer demand, give full play to the key role of effective investment in stabilizing growth and restructuring, and further promote new urbanization. We should vigorously optimize the industrial structure, speed up the construction of modern agriculture, and focus on steady industrial growth, restructuring and increasing efficiency. It is necessary to speed up the formation of a new pattern of opening to the outside world and cultivate new advantages in international competition. New breakthroughs are needed to promote green development. We must maintain the basic livelihood and keep the bottom line. It is necessary to improve the mechanism of supervision, incentive and accountability, and promote hard work and entrepreneurship in all aspects. The meeting emphasized that adhering to the major principles of Socialism with Chinese characteristics's political economy, liberating and developing social productive forces, adhering to the direction of socialist market economy reform, and making the market play a decisive role in resource allocation are the main lines of deepening economic system reform. We must persist in mobilizing the enthusiasm of all parties, fully mobilize the enthusiasm of people, fully mobilize the enthusiasm of the central and local governments, and pay attention to mobilizing the enthusiasm, initiative and creativity of entrepreneurs, innovative talents and cadres at all levels. It is necessary to improve the ability of public opinion guidance, be good at grasping the essence, mainstream and trend, grasp the social psychology, grasp the opportunity, degree and effect, make in-depth analysis, take the initiative to speak out, clarify right and wrong, and do a better job in public opinion guidance. The meeting called for the convening of this central economic work conference, which is not only a comprehensive deployment of economic work next year, but also a key deployment to promote structural reform. Leading cadres at all levels should unify their thinking in the decision-making and deployment of the CPC Central Committee, grasp the correct direction, make solid progress, constantly achieve tangible results in promoting reform, development and stability, and promote higher quality, more efficient, fairer and more sustainable development.