The Political Bureau of the Communist Party of China (CPC) Central Committee on Friday held a meeting to analyze and study the economic work of 2024, arrange Party conduct and anti-corruption work, and review regulations on the CPC's disciplinary action.

The meeting was chaired by Xi Jinping, general secretary of the CPC Central Committee.

Noting that Chinese economy has achieved a recovery this year and the country's high-quality development has made solid progress, the meeting emphasized measures to effectively enhance economic vitality, prevent and defuse risks, improve social expectations, and consolidate and enhance the positive momentum of economic upturn in the economic work of 2024.

The meeting urged efforts to pursue progress while ensuring stability, consolidate stability through progress, and establish the new before abolishing the old regarding the economic work next year.

The country should strengthen counter-cyclical and cross-cyclical adjustments of macro policies and continue to implement a proactive fiscal policy and a prudent monetary policy.

The proactive fiscal policy should be appropriately intensified and improved in quality and efficiency, while the prudent monetary policy should be flexible, appropriate, targeted and effective, according to the meeting.

It also stressed efforts to lead the development of a modern industrial system through scientific and technological innovations, and improve the resilience and security of industrial and supply chains.

Work should be done to increase domestic demand and form a virtuous circle in which consumption and investment promote each other. Reform should be deepened in key areas to constantly inject strong momentum into high-quality development.

The meeting also emphasized expanding high-standard opening up and consolidating the overall performance of foreign trade and foreign investment.

The country should continuously and effectively prevent and defuse risks in key areas and resolutely safeguard the bottom line against systemic risks.

Measures should also be taken to promote urban-rural integrated development and coordinated regional development, further advance ecological progress and green and low-carbon growth, and ensure and improve people's well-being, according to the meeting.

The meeting stressed the high-quality implementation of the CPC Central Committee's major decisions and arrangements for economic work, while underscoring efforts to ensure market supply and stable prices of essential goods during New Year's Day and the Spring Festival and ensure full and timely payments of migrant workers' wages.

Since the 20th CPC National Congress in 2022, new progress and achievements have been made in advancing the high-quality development of discipline inspection and supervision, the meeting said.

Discipline inspection and supervision organs should promote the Party's full and rigorous self-governance and make unremitting efforts to improve conduct, enforce discipline and combat corruption, it noted.

Efforts should be made to tighten political oversight, advance the fight against corruption, deal a heavy blow to pointless formalities, bureaucratism, hedonism and extravagance, make oversight more effective, and develop a team of discipline inspection and supervision personnel who are high-caliber and professional, the meeting said.

Prior to this meeting, Xi had chaired a meeting of the Standing Committee of the Political Bureau of the CPC Central Committee, during which a briefing was given on the work of the CPC Central Commission for Discipline Inspection (CCDI) and the National Commission of Supervision in 2023 and preparation for the third plenary session of the 20th CCDI of the CPC.

The meeting agreed that the plenary session is scheduled for Jan. 8 to 10 next year.

Since the 18th CPC National Congress in 2012, the CPC has made three rounds of revisions to its regulations on disciplinary action in order to constantly strengthen its capability to purify, improve, reform and excel itself, the meeting noted.

The meeting stressed further efforts to enforce strict political discipline and rules, and promote the publicity and implementation of the regulations to enhance the Party's creativity, cohesiveness and capacity to take on challenges.