The 2025 Annual Meeting of the two-day China Development Forum was held today (23rd) at the Diaoyutai State Guesthouse in Beijing. Han Wenxiu, deputy director in charge of daily work of the Office of the Central Financial and Economic Commission and director of the Office of the Central Rural Work Leading Group, said at the annual meeting that my country will continue to deepen supply-side structural reform, constantly update old kinetic energy, and develop new kinetic energy.

Han Wenxiu introduced that my country's industrial categories are very complete, the industrial chain system is complete, the supporting capabilities are strong, and the integration advantages are obvious. This is unique in the world. We have the foundation and conditions to continue to deepen supply-side structural reforms and promote the continuous improvement of the quality and efficiency of the supply system.

Korean Wenxiu: We must promote the continuous transformation of new and old development momentum. In recent years, we have turned pressure into motivation and made positive progress in promoting scientific and technological self-reliance. We will adhere to science and technology leadership, innovation-driven, adapt to local conditions, develop new quality productivity, vigorously develop emerging industries, actively cultivate future industries, actively use digital technology, green technology, and artificial intelligence to transform and upgrade traditional industries, and also standardize enterprise-related fees and law enforcement to effectively reduce the burden on enterprises.

Han Wenxiu also stated that my country will comprehensively rectify intra-copy competition, standardize the behavior of local governments and enterprises, govern vicious competition in ultra-low prices in accordance with the law, standardize the competition order, advocate high-quality and high prices, oppose inferior and low prices, and promote the survival of the fittest in enterprises.

At the same time, we must vigorously promote the entrepreneurial spirit, promote old, Chinese and new entrepreneurs to work together, and develop together large, medium and small enterprises to create more enduring century-old stores.

my country will steadily promote the opening up of the service industry

At this annual meeting, Han Wenxiu said that my country will steadily promote the opening up of the service industry, including the financial industry, and actively develop green trade and digital trade.

Han Wenxiu said that my country will unswervingly promote high-level opening up to the outside world. Steadily expand institutional opening up, orderly expand independent opening up and unilateral opening up, deepen foreign investment, promote institutional and mechanism reform, and create a first-class business environment in market-oriented, law-based and internationalized. Steadily promote the opening up of service industries, including the financial industry, and actively develop green trade and digital trade.

Han Wenxiu: Recently, we have seen many international investors optimistic about the Chinese economy and China's assets. We sincerely welcome international capital to return to China, deepen our fertile soil for Chinese investment, and share the dividends of China's development.

When talking about the current international situation, Han Wenxiu said that we firmly oppose unilateral acts such as tariff wars and trade wars.

Han Wenxiu: We will resolutely counter and effectively respond to unreasonable suppression and containment, and effectively safeguard our own interests. We believe that multilateralism is the right way to the world, and the wider it goes, unilateralism will eventually become a lonely person and enter a dead end.

Han Wenxiu said that over the years, as a responsible major country, China has firmly been a defender of the multilateral trading system, showing the responsibility of a major country to promote economic globalization, and my country's economic rebalancing has made significant progress. China's competitive project surplus in GDP has dropped from about 10% at its highest in 2007 to about 2%. At the same time, we actively expand imports by holding the China International Import Expo and other countries, and share opportunities for growing super-large-scale markets with countries around the world.

The three major risks have been effectively controlled

In addition, Han Wenxiu also stated that after hard work, my country's real estate market, local government debt and small and medium-sized financial institutions have been effectively controlled.

Han Wenxiu: In recent years, we have put a lot of effort into resolving the risks of real estate market, local government debts and small and medium-sized financial institutions. After hard work, these three major risks have been effectively controlled and are currently in a convergent state.

Han Wenxiu said that since the fourth quarter of last year, my country's real estate market transactions and prices have undergone positive changes, and the recovery trend of first-tier cities is relatively obvious. my country will continue to promote the real estate market to stop falling and stabilize, accelerate the construction of a new model of real estate development, and promote the long-term, sustainable and healthy development of the real estate market.

At the same time, my country will continue to do a good job in the replacement of hidden debts of local governments, and promote the market-oriented transformation of local financing platforms and the resolution of debt risks. my country attaches great importance to solving the problem of arrears of corporate accounts, and will make good use of fiscal and monetary policy tools, and strive to make significant progress as soon as possible.