China targets quality instead of speed in economic growth

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China will pursue quality economic development instead of high-speed growth over the next five years, a senior official confirmed at a press conference on Thursday morning to mark the end of the 19th National Congress of the Communist Party of China (CPC).

On high-quality development

Yang Weimin, deputy head of the Office of the Central Leading Group on Finance and Economic Affairs, said that doubling the country's GDP was no longer a key goal, with the focus shifting on "high-quality growth, not high-speed growth."

Yang Weimin speaks at a press conference after the 19th CPC National Congress, October 26. /China.com.cn Photo

Yang urged a quality-first approach, giving priority to performance, efficiency and new growth drivers while pursuing deeper supply side reform to develop a modernized society.

Growth has shifted gears over the past five years from high-speed to medium-high, the official noted, adding that while China leads the world in capacity, "the main problem is insufficient quality." Capacity cuts are now needed, he added.

Yang stressed that while strong growth will still be pursued, "the foundation is not solid enough, we still face challenges."

Xi Jinping, General Secretary of the CPC Central Committee, said during his address to the opening session of the 19th CPC National Congress that China would deepen economic and financial reforms and open its doors to further foreign investment.

On achievements over the past five years

Yuan Shuhong, deputy director of the Legislative Affairs Office of the State Council, briefed media on achievements made in "the truly remarkable" five years since 2012.

Yuan Shuhong, deputy director of the Legislative Affairs Office of the State Council. /CGTN Photo

With the gross domestic product rising from 54 trillion to 80 trillion yuan, China has maintained its position as the world's second largest economy and contributed more than 30 percent to global economic growth, Yuan said.

He said the CPC has "solved many tough problems that were long on the agenda but never resolved and accomplished many things that were wanted but never got done."

On Xi Jinping Thought

Wang Xiaohui, deputy head of the Publicity Department of the CPC Central Committee, elaborated on Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, which was enshrined into the Party Constitution at the Congress.

The senior official said that the Thought has opened a new ground for Marxism, Socialism with Chinese Characteristics, state governance and self-governance of the Party.

When asked why Xi's name is used to name after Party's guiding principle, Wang said to name a Party theory and guiding thought with the name of a leader is a common practice in international Communist movement, citing Marxism-Leninism, Mao Zedong Thought and Deng Xiaoping Theory as examples.

Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era is "a crystallization of the collective wisdom of the whole Party and summary of the practical experience of the Party and the people. However, the main initiator is comrade Xi Jinping and he made big contributions to it. So we believe he deserves to have his name attached to this theory, which also shows the maturity and confidence in the Party's theory," Wang added.

On New Era and principal contradiction

Leng Rong, director of Party Literature Research Center of CPC Central Committee, analyzed on the connotation of the New Era and gave the sufficient basis on why principal contradiction has evolved.

The report defines the New Era as "Five Eras". Leng said these eras can respectively answer the following questions: What kind of path will China follow? What historical tasks will China accomplish and how to fulfill the strategic arrangements? What development thought will China insist and what are China's goals? What kind of ethos will be used to realize China's goals? What contributions should China make to human society?

Leng Rong, director of Party Literature Research Center of CPC Central Committee /CGTN Photo

The Sixth Plenary Session of the 11th CPC Central Committee in 1981 came up with the "principal Chinese contradiction at the primary stage of socialism," which is the "contradiction between the people's rising material and cultural needs and the low level of social production."

However, in his report to the 19th CPC National Congress, Xi made the remarks that "the primary contradiction facing Chinese society has evolved to the contradiction between unbalanced and inadequate development and the people's growing need for a better life."

Leng said, the change of people's needs and social production are the sufficient basis to explain why principal contradiction has evolved.

"From material and cultural needs to the need for a better quality of life, and from backward social production to imbalanced and inadequate development, the changes in concept have reflected the tremendous progress of Chinese society, of the developmental needs for the current stage, and of the key requirements for advancing the cause of the Party and the country. Economic development will remain our central task. More emphasis will be put on all-round development in the New Era." Leng added.

Meanwhile, Leng pointed out that China is still at the primary stage of socialism and will remain so for a long time to come, which will not be influenced by the change of principal contradiction.

On Party building

Jiang Jinquan, a discipline inspection official of the CPC, elaborated on Party building in a New Era, emphasizing on pushing efforts in effective Party building, weeding out corruption.

Jiang Jinquan, a discipline inspection official of the CPC /CGTN Photo

Deputy secretary of the Central Commission for Discipline Inspection (CCDI) Xiao Pei noted that Xi emphasizes on strict Party self-governance as he dedicated one-eighth of the report to talk about it.

When asked whether the power of the Discipline Inspection Commissions will be further expanded once they work together with the Supervisory Commissions in the future, Xiao said it will not mean power expansion to any of the commissions but will just mean greater responsibility in enforcing both the disciplines and the law.

Xiao Pei, deputy secretary of the Central Commission for Discipline Inspection (CCDI) /CGTN Photo

The 19th CPC National Congress, a five-yearly event, concluded Tuesday in Beijing, enshrining Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era into the Party Constitution and installing a new Central Committee and a new Central Commission for Discipline Inspection.

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