The Chinese central government has approved a raft of new measures directed at driving high-quality economic growth and improving financial inclusion.
On 28 February a meeting of the Central Comprehensive Reform Commission convened by President Xi Jinping approved a raft of key measures including:
- The Guidance Opinions on Accelerating the Creation of Global First-Class Enterprises (关于加快建设世界一流企业的指导意见).
- The Implementation Opinions on Driving the High-quality Development of Financial Inclusion (推进普惠金融高质量发展的实施意见).
- The Opinions Concerning Strengthening the Cultivation of Foundational Subject Talent” (关于加强基础学科人才培养的意见).
- The Guidance Opinions on Driving State-owned Enterprises to Create Original Technology Sources (关于推进国有企业打造原创技术策源地的指导意见).
At the meeting Xi called for “upholding the comprehensive leadership of the party, developing a higher-level socialist market economy, never wavering from consolidation and growth of the public-owned economy, and never wavering in encouraging, supporting and guiding the growth of the non-public economy.”
Xi also called for “accelerating the creation of a cohort of global first-class enterprises with outstanding products and renowned brands, who are leaders in innovation and possess modern management.”
With regard to finance, Xi called for “driving the high-quality growth of financial inclusion, making improvements to a modern financial system which is highly adaptable, competitive and inclusive; better satisfying the diversified financial needs of the people and the real economy, and pragmatically resolving the problems of loans being difficult to obtain and expensive.”
With regard to human resource development, Xi said that China must “comprehensively plan the development of foundational subject talent, scientifically determine the scope of talent cultivation, optimise structural arrangements, and systematically and vigorously cultivate a large cohort of foundational research talent urgently required for national innovation development.”