Key tasks set out for economy in 2022

The meeting also clarified key theoretical and practical issues facing the nation as it enters a new phase of development.

In attaining common prosperity, the policymakers underscored that the nation must make the "cake" bigger and better through the joint efforts of all people before establishing a mechanism to ensure its proper distribution.

It is imperative that the employment-first policy is further reinforced, the role of distribution is amplified and public service policies and mechanisms are improved during the process, they added.

It highlighted the need to give priority to the conservation of primary products, including energy and minerals, and to enhance the domestic capacity for the production of resources.

In preventing and diffusing major risks, the policymakers stressed the need for adequate resources in this regard, saying that policies for the diffusing of risks should be in the pipeline and the financial risk settlement mechanism should be refined.

They underscored the need for unwavering efforts to move forward with work in peaking carbon emissions before 2030 and attaining carbon neutrality before 2060, while recognizing that it would be impossible for the nation to accomplish everything at one stroke.

Given the fact that China predominantly relies on coal for its energy supply, the policymakers decided that the country will not include newly added renewable energy resources and their raw materials in the curbs in total energy consumption.

The meeting also stressed the importance of stepping up adjustments in the transportation of coal, electricity, oil and gas to ensure adequate power supplies.

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