The fifth issue of "Qiushi" magazine published on March 1 published an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the People's Republic of China, and Chairman of the Central Military Commission, "Economic work must coordinate several important relationships."

The article emphasizes that 2024 is a critical year for achieving the goals and tasks of the "14th Five-Year Plan". Faced with the complex and severe situation of increasing external pressure and increasing internal difficulties, the Party Central Committee has united and led the whole Party and people of all ethnic groups in the country to calmly respond and implement comprehensive policies. The economic operation is generally stable and steady, and high-quality development is steadily promoted. my country's economic strength, scientific and technological strength, and comprehensive national strength have continued to increase, and China's modernization has taken new and solid steps. The development history over the past year is extraordinary and the achievements are encouraging. On September 26, the Political Bureau of the Central Committee decisively deployed a package of incremental policies, effectively boosting the real estate market, stock market, market expectations and social confidence, and a significant economic recovery, which not only promoted the realization of the annual target, but also laid a good foundation for economic development in 2025.

The article points out that when analyzing the situation, we must adhere to the "two-point theory", and explain the achievements well and the problems thoroughly. At present, the adverse impacts brought about by changes in the external environment have deepened, and my country's economic operation is still facing many difficulties and challenges. At the same time, it must be seen that my country's economic foundation is stable, has many advantages, has strong resilience and great potential, and the long-term positive support conditions and basic trends have not changed. As long as confidence does not fall, there are always more ways than difficulties. We must face up to difficulties, strengthen our confidence, and strive to transform all positive factors into development achievements.

The article points out that in practice, we continue to deepen our understanding of the regularity of economic work. The greatest consensus formed by the whole Party is that the centralized and unified leadership of the Party Central Committee is the fundamental guarantee for doing a good job in economic work. At critical moments and important nodes, the Party Central Committee promptly analyzes the situation and makes decisions and arrangements to ensure that our country's economic ship rides the wind and waves and moves steadily.

The article points out that economic work is complicated and several important relationships must be coordinated. First, we must coordinate the relationship between an effective market and an effective government to form an economic order that is both "relaxed" and "controlled". The government should do what it is and not what it is to solve the problems of absent and offside. The more standardized the government's behavior, the more effective the market role will be. Second, we must coordinate the relationship between total supply and total demand and smooth the circulation of the national economy. We must adhere to the coordinated efforts and dynamic balance between supply and demand, and continue to deepen supply-side structural reform. We must speed up the filling of domestic demand, especially consumption shortcomings, so that domestic demand becomes the main driving force and stability anchor to drive economic growth. Third, we must coordinate the relationship between cultivating new momentum and updating old momentum, and develop new quality productivity according to local conditions. We must take scientific and technological innovation as the guide, vigorously cultivate and strengthen emerging industries and future industries, accelerate the transformation and upgrading of traditional industries that are the basic basis for economic growth and employment income, and promote the stable continuous transformation of new and old development momentum. Fourth, it is necessary to coordinate the relationship between improving the incremental volume and revitalizing the existing volume, and comprehensively improve the efficiency of resource allocation. Be good at driving incremental growth by revitalizing existing stocks, coordinate the improvement of incremental and revitalizing existing stocks, manage assets and adjust liabilities, and expand new development space. Fifth, we must coordinate the relationship between improving quality and increasing the total amount, and consolidate the material foundation of Chinese-style modernization. We must adhere to the unity of winning by quality and leveraging the effect of scale, and unify the effective improvement of quality and reasonable growth of quantity with the entire process of high-quality development.