On September 26, the Political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and deploy the next steps for economic work. Xi Jinping, General Secretary of the CPC Central Committee, presided over the meeting.

　　The meeting held that since the beginning of this year, the CPC Central Committee with Comrade Xi Jinping at its core has united and led the people of all ethnic groups across the country to overcome difficulties and respond calmly, intensifying macro-control efforts, focusing on deepening reform and opening up, expanding domestic demand, and optimizing the economic structure. The economy has operated generally steadily with progress amid stability, new quality productive forces have steadily developed, people's livelihood guarantees have been solid and effective, significant progress has been made in preventing and resolving risks in key areas, high-quality development has been steadily promoted, and the overall social situation has remained stable.

　　The meeting pointed out that the fundamentals of China's economy, as well as favorable conditions such as a broad market, strong economic resilience, and great potential, have not changed. At the same time, some new situations and problems have emerged in the current economic operation. It is necessary to comprehensively, objectively, and calmly view the current economic situation, face difficulties squarely, strengthen confidence, and earnestly enhance the sense of responsibility and urgency in doing economic work well. Focus on key points, take initiative, effectively implement existing policies, introduce additional policies, further improve the pertinence and effectiveness of policy measures, and strive to complete the annual economic and social development goals and tasks.

　　The meeting emphasized the need to strengthen counter-cyclical adjustments in fiscal and monetary policies, ensure necessary fiscal expenditures, and effectively carry out the grassroots "three guarantees" work. It is necessary to issue and properly use ultra-long-term special government bonds and local government special bonds to better leverage government investment to drive development. The reserve requirement ratio should be lowered, and interest rate cuts with strength should be implemented. Efforts should be made to stabilize and reverse the decline in the real estate market, strictly control the increase in commercial housing construction, optimize the stock, improve quality, increase loan issuance for "white list" projects, and support the revitalization of idle stock land. Public concerns should be addressed by adjusting housing purchase restrictions, lowering interest rates on existing housing loans, promptly improving policies on land, finance and taxation, and finance, and promoting the establishment of a new model for real estate development. Efforts should be made to boost the capital market, vigorously guide medium- and long-term funds into the market, and unblock bottlenecks for social security, insurance, wealth management, and other funds entering the market. Support should be given to mergers and acquisitions of listed companies, steadily advance public fund reforms, and study and introduce policy measures to protect small and medium investors.

　　The meeting pointed out the need to help enterprises overcome difficulties and further regulate law enforcement and supervision related to enterprises. A law to promote the private economy should be introduced to create a favorable environment for the development of the non-public economy. Consumption promotion and livelihood improvement should be combined to increase the income of middle- and low-income groups and improve the consumption structure. New types of consumption formats should be cultivated. Support and regulation of social forces developing elderly care and childcare industries should be strengthened, and the system of fertility support policies should be promptly improved. Efforts should be intensified to attract and stabilize investment, accelerate the promotion and implementation of reform measures such as foreign investment access in the manufacturing sector, and further optimize a first-class business environment characterized by marketization, rule of law, and internationalization.

　　The meeting emphasized the need to safeguard the bottom line of people's livelihood, focusing on employment for key groups such as fresh college graduates, migrant workers, people lifted out of poverty, and zero-employment households, and strengthen assistance for employment-challenged groups such as older workers, disabled persons, and those unemployed for extended periods. Assistance for low-income populations should be strengthened. Efforts should be made to ensure the supply and stable prices of important materials such as food, water, electricity, gas, and heating. Grain and agricultural production should be earnestly secured, farmers' income increased, autumn and winter production well managed, and national food security ensured.

　　The meeting required all regions and departments to conscientiously implement the decisions and deployments of the CPC Central Committee, take action as the priority, unite as one, fully stimulate the enthusiasm, initiative, and creativity of the whole society to promote high-quality development, and drive the economy to continue to recover and improve. Broad masses of Party members and cadres should be courageous in taking responsibility and daring to innovate, improving their skills and achieving results in overcoming difficulties. A good guide for selecting and employing personnel should be established, earnestly implementing the "three distinctions," supporting those who take responsibility, and backing those who work hard. Support should be given to major economic provinces to shoulder heavy responsibilities and better play their leading and supporting roles.

　　The meeting also studied other matters.