CCTV:

In the face of the current pressure on China's economic and social development, it is necessary to focus on stimulating economic vitality through reform. What are the key tasks for reforming the economic system this year? How can we further stimulate economic and social development through reform? Thank you.

Lian Weiliang:

Thank you for your questions. Both the Central Economic Work Conference and the premier's government work report clearly stated that "reform and opening-up policies should lend impetus to development." The Party Central Committee and the State Council have deployed a series of major reforms to vitalize development. The NDRC will act on its new development philosophy, build on its new development paradigm, promote high-quality development, and earnestly implement these major reforms, particularly in the five areas of implementing reforms to stimulate the vitality of market players, to build a high-standard market system, to stabilize growth and expand domestic demand, to promote high-level opening-up, and to promote the transition to green and low-carbon growth.

First, we will accelerate reforms to stimulate the vitality of market players. We will complete the three-year action plan (2020–2022) for the reform of state-owned enterprises (SOEs), move faster to adjust and improve the layout and structure of the state-owned sector, and deepen the reform of mixed ownership actively and steadily. We will encourage and guide private enterprises to accelerate the pace of structural reform and achieve high-quality development. We will focus on the concerns of market players, continue to strengthen support for micro, small and medium-sized enterprises (MSMEs), and create a favorable environment for various market players to compete for development. We will advocate an entrepreneurial spirit and accelerate the building of world-class enterprises.

Second, we will accelerate reforms to build a high-standard market system. Efforts will be made to remove market barriers, improve the fundamental market system, and build a unified domestic market. We will carry out comprehensive pilot reforms of the market-based allocation of production factors, strive to achieve major breakthroughs in land, labor, capital and technology, and make significant progress in the basic system related to data. We will steadily promote market-oriented reform of competitive areas in key industries, accelerate the building of a unified national market system for electric power, and further improve the unified national oil and gas market system.

Third, we will accelerate reforms to stabilize growth and expand domestic demand. We will innovate the investment and financing system, promote reforms to introduce a business-invested project commitment system, improve investment facilitation, and better leverage private capital to expand effective investment. We will promote the quality and scale of consumption, further improve the consumption environment, and facilitate the continuous recovery of consumer spending. We will improve the institutions and mechanisms for distribution based on factors of production and expand the size of the middle-income group.

Fourth, we will accelerate reforms to achieve a higher level of opening-up. We will continue to promote institutional opening-up, ensure national treatment for all foreign-invested enterprises, further ease market access for foreign capital, and ensure that the negative list for cross-border service trade is fully observed. We will speed up construction of the Hainan Free Trade Port, and do a good job in the island-wide customs clearance operation. We will optimize services for foreign investors and speed up the implementation of major foreign investment projects.

Fifth, we will accelerate reforms to shift toward green and low-carbon development. Efforts will be made to achieve the peak carbon and carbon neutrality goals. We will improve assessment and statistical accounting systems for greenhouse gas emissions, and avoid one-size-fits-all or campaign-style approaches in carbon reduction. We will speed up improvements to policy incentives for reducing pollution and carbon emissions and policy constraints on such emissions, and launch trials for the trading of energy consumption rights and green power. We will improve the price formation mechanism and promote important breakthroughs in the ecological product value-realization mechanism.

In accordance with the requirements of the CPC Central Committee and the State Council, we will make full use of the "key tactic" of reform to inject strong impetus into the stable and healthy development of the economy and society.

Thank you.