The annual Central Economic Work Conference was held in Beijing from Wednesday to Friday as Chinese leaders mapped out priorities for the economic work in 2022.

In a speech at the conference, Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, Chinese president and chairman of the Central Military Commission, reviewed the country's economic work in 2021, analyzed the current economic situation and arranged next year's economic work.

The year 2021 has been a milestone for both the Party and the nation, according to the meeting, which noted that China has maintained a leading position in the world in economic development and epidemic control, with progress made in scientific strength, industrial chain resilience, reform and opening-up, people's livelihood and ecological civilization.

However, it cautioned that China's economic development is facing pressure from demand contraction, supply shocks and weakening expectations, and the external environment is becoming increasingly complicated, grim and uncertain.

"We must face the difficulties squarely while staying confident," said a statement released after the meeting, citing China's strong economic resilience and unchanged fundamentals underpinning long-term growth.

The meeting called for remaining committed to China's own cause, consolidating the economic foundations, enhancing the abilities of scientific and technological innovation and adhering to multilateralism.

It also urged making proactive efforts to align with the highest international economic and trade rules, deepening reform via high-level opening-up, and boosting high-quality development.

The meeting stressed the necessity to adhere to the centralized, unified leadership of the CPC Central Committee, promote high-quality development and pursue progress while ensuring stability.

It highlighted the timing, extent and efficiency of policy adjustments and reform to ensure their steady advancement, as well as coordination and systems thinking.

Actions should be taken to safeguard macroeconomic stability, keep major economic indicators within an appropriate range and maintain social stability to prepare for the Party's 20th National Congress, the meeting said.

Economic work next year should prioritize stability while pursuing progress, it noted, calling on all regions and departments to assume responsibility for stabilizing the macroeconomy, and all sides to take the initiative and launch policies conducive to economic stability. 

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