Exclusive: CPPCC Member Yin Yanlin Talks Economic Recovery and Seeking Momentum from Deepening Reforms (AI Translation)
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- China aims for about 5% economic growth in 2024, supported by improved economic environment, unleashing domestic demand potential, and favorable macroeconomic policies. Challenges include insufficient effective demand, weak social expectations, and various risks.
- Key reforms for enhancing internal demand, optimizing structure, boosting confidence, ensuring livelihoods, and mitigating risks include improving long-term mechanisms for expanding domestic demand, accelerating the construction of a unified national market, implementing 'two unwaverings' systems for state-owned and private enterprises, and advancing scientific innovation and financial reforms.
- Innovations are crucial for high-quality development; however, China's innovation capability faces challenges such as an unsuitable talent cultivation system, inadequate incentive mechanisms in research institutions, the limited role of enterprises in innovation, an unfit financial system for innovation funding, and micro-mechanisms that do not support innovation.
文｜财新周刊 于海荣 任波
By Caixin Weekly's Yu Hairong and Ren Bo
全国两会刚刚闭幕，2024年中国经济发展的目标、宏观政策力度等市场关注的问题已经明确。
The National Two Sessions have just concluded, and the targets for China's economic development in 2024, along with the scale of macroeconomic policies and other market concerns, have been clarified.
要实现5%左右的增长目标，有哪些有利因素支撑，又面临着哪些挑战？已推出的政策力度是否足够？对高质量发展至关重要的创新，将如何加快推进？2024年作为全面深化改革又一个重要年份，有哪些有利于扩大内需、优化结构、提振信心、保障民生、防范化解风险的改革举措需要尽快推出？十四届全国政协经济委员会副主任尹艳林近日接受了财新专访，对上述问题一一作答。
To achieve the growth target of around 5%, what favorable factors are supporting this objective, and what challenges are being faced? Are the policies that have been introduced strong enough? Regarding innovation, which is crucial for high-quality development, how can its progress be accelerated? With 2024 marking another important year for comprehensive deepening of reforms, what reform measures conducive to expanding domestic demand, optimizing structure, boosting confidence, ensuring people's livelihoods, and preventing and resolving risks need to be swiftly implemented? Yin Yanlin, Vice Chairman of the Economic Committee of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), recently gave an exclusive interview to Caixin to answer these questions.
尹艳林从2005年起开始任职于中国经济决策的核心部门——中央财经领导小组办公室，2017年起先后担任中央财经领导小组办公室副主任、中央财经委员会办公室副主任；2023年3月出任十四届全国政协经济委员会副主任。
Yin Yanlin has been serving in the core department of China's economic decision-making, the Office of the Central Leading Group on Financial and Economic Affairs, since 2005. Starting from 2017, he successively held the positions of Deputy Director of the Office of the Central Leading Group on Financial and Economic Affairs and Deputy Director of the Office of the Central Commission for Financial and Economic Affairs. In March 2023, he was appointed as the Deputy Director of the Economic Committee of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC).
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