Aerial photo taken on August 17, 2020 shows the container dock of Yangshan Port in Shanghai, in east China(XINHUA)
China's Central Economic Work Conference, which took place between December 16 and 18, 2020, is a regular event occurring at the end of every year. Reviewing the economic efforts of the past year, analyzing the current situation and making preparations for the new year's undertakings, the conference has become a focal point of society.
As the conference revealed, in 2021, China's overall economic narrative will focus on eight areas, such as to strengthen the national strategic science and technology, create more independent industrial and supply chains, boost domestic consumption, push forward reform, tackle the housing problem in big cities, step up anti-monopoly efforts and prevent the disorderly expansion of capital.
Based on the current economic development and the scientific assessment of future economic momentum, the eight tasks were identified after careful research and much discussion, which reveal that in 2021 China's economy is to develop at a pace which is less likely to be disrupted by external factors. Although having taken a hit from the novel coronavirus disease (COVID-19) pandemic, the Chinese economy is emerging stronger from this short-lived shock, managing to keep its upbeat trend of growth.
The year 2021 marks the first year of the 14th Five-Year Plan (2021-25), the completion of the first centenary goal of building a moderately prosperous society in all respects. It is also the starting point of China's efforts for the realization of the second centenary goal commemorating the 100th anniversary of the founding of the People's Republic of China in 1949, which is to build a modern socialist country that is prosperous, strong, democratic, culturally advanced, harmonious and beautiful by the middle of this century.
China has always worked toward opening up to the outside world, pursuing multilateralism and actively safeguarding economic globalization. Consequently, China's stable economic growth is a boon to the rest of the world as it provides huge opportunities to many economies ravaged by COVID-19.
China is establishing a dual circulation development pattern in which the nation's domestic economic cycle plays a leading role while the international economic cycle remains its extension and supplement. China's vast domestic market will help drive the global market on an unprecedented scale.
Seizing the opportunities presented by the Chinese market and dancing with it in this dual circulation pattern will prove favorable for a lot of economies in achieving their own progress in 2021.