CEWC Readout - Xi's Message on Political Achievements - Wang Yi Visits Riyadh - Core AI Industry Scale to Exceed Rmb 1.2 Trillion

The Central Economic Work Conference was held last week. The CEWC readout was published in Friday’s paper. Let me break down the readout along with some of the interesting reporting around Xi Jinping’s remarks on some specific issues in the paper over the weekend.

First, the CEWC readout says:

The meeting noted that this year has been an extraordinary year. The CPC Central Committee, with Comrade Xi Jinping at its core, has united and led the entire Party and the people of all ethnic groups across the country to overcome difficulties and strive forward, unswervingly implementing the new development concept and promoting high-quality development, coordinating domestic and international situations, and implementing more proactive and effective macroeconomic policies; the main goals of economic and social development will be successfully achieved. China’s economy has pressed forward under pressure, developing toward newness and toward the better, the construction of a modernized industrial system has continued to advance, reform and opening up have taken new steps, positive progress has been achieved in resolving risks in key areas, and livelihood guarantees have become more forceful. Over the past five years, we have effectively responded to various shocks and challenges, promoted the achievement of new major accomplishments in the Party’s and the country’s undertakings, the 14th FYP is about to conclude satisfactorily, and the new journey toward the second centenary goal has achieved a good start. 会议指出，今年是很不平凡的一年。以习近平同志为核心的党中央团结带领全党全国各族人民迎难而上、奋力拼搏，坚定不移贯彻新发展理念、推动高质量发展，统筹国内国际两个大局，实施更加积极有为的宏观政策，经济社会发展主要目标将顺利完成。我国经济顶压前行、向新向优发展，现代化产业体系建设持续推进，改革开放迈出新步伐，重点领域风险化解取得积极进展，民生保障更加有力。过去5年，我们有效应对各种冲击挑战，推动党和国家事业取得新的重大成就，“十四五”即将圆满收官，第二个百年奋斗目标新征程实现良好开局.

The meeting held that, through practice, we have gained new understanding and experience in doing economic work under the new situation: we must fully tap economic potential; we must adhere to advancing policy support and reform innovation simultaneously; we must achieve both ‘releasing vitality’ and ‘managing well’; we must persist in closely combining investing in things and investing in people; and we must respond to external challenges by painstakingly strengthening our internal capabilities.会议认为，通过实践，我们对做好新形势下经济工作又有了新的认识和体会：必须充分挖掘经济潜能，必须坚持政策支持和改革创新并举，必须做到既“放得活”又“管得好”，必须坚持投资于物和投资于人紧密结合，必须以苦练内功来应对外部挑战.

The meeting pointed out that there are still many old problems and new challenges in China’s economic development. The impact of changes in the external environment has deepened, the contradiction of strong supply and weak demand domestically is prominent, and there are many risks and hazards in key areas. These are mostly problems in development and in transformation, which can be solved through effort; the supporting conditions and basic trend of China’s economy being positive in the long term have not changed. We must strengthen confidence, utilize our advantages, and meet challenges to continuously consolidate and expand the momentum of steady and positive economic development. 会议指出，我国经济发展中老问题、新挑战仍然不少，外部环境变化影响加深，国内供强需弱矛盾突出，重点领域风险隐患较多。这些大多是发展中、转型中的问题，经过努力是可以解决的，我国经济长期向好的支撑条件和基本趋势没有改变。要坚定信心、用好优势、应对挑战，不断巩固拓展经济稳中向好势头.

The meeting emphasised that to to ensure the success of next year’s economic work, it is essential to take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as the guide; thoroughly implement the spirit of the 20th Party Congress and its subsequent plenary sessions; fully, accurately, and comprehensively implement the new development concept; accelerate the construction of a new development pattern; focus on promoting high-quality development; adhere to the general principle of seeking progress while maintaining stability; better coordinate domestic economic work and international economic and trade struggles; better coordinate development and foresight, pertinence, and synergy of policies; continuously expand domestic demand and optimise supply; optimise incremental growth and revitalise existing stock; develop new-quality productive forces according to local conditions; deepen the construction of a unified national market; continuously prevent and resolve risks in key areas; focus on stabilising employment, enterprises, markets, and expectations; promote effective qualitative improvement and reasonable quantitative growth of the economy; maintain social harmony and stability; and achieve a good start to the 15th FYP. 会议强调，做好明年经济工作，要以习近平新时代中国特色社会主义思想为指导，深入贯彻党的二十大和二十届历次全会精神，完整准确全面贯彻新发展理念，加快构建新发展格局，着力推动高质量发展，坚持稳中求进工作总基调，更好统筹国内经济工作和国际经贸斗争，更好统筹发展和安全，实施更加积极有为的宏观政策，增强政策前瞻性针对性协同性，持续扩大内需、优化供给，做优增量、盘活存量，因地制宜发展新质生产力，纵深推进全国统一大市场建设，持续防范化解重点领域风险，着力稳就业、稳企业、稳市场、稳预期，推动经济实现质的有效提升和量的合理增长，保持社会和谐稳定，实现“十五五”良好开局. (Note: This is the same as was said in the Politburo meeting readout.)

The meeting pointed out that, in terms of policy orientation for next year’s economic work, it is necessary to adhere to the principle of seeking progress while maintaining stability and improving quality and efficiency, leverage the integrated effects of existing and new policies, strengthen counter-cyclical and cross-cyclical adjustments, and improve the effectiveness of macroeconomic governance. Maintain a necessary fiscal deficit, total debt scale, and total expenditure; strengthen scientific fiscal management; optimize the structure of fiscal expenditures; and standardize tax incentives and fiscal subsidy policies. Attach importance to resolving local fiscal difficulties and firmly hold the bottom line of the “three guarantees” at the grassroots level. Strictly enforce financial and economic discipline and persist in Party and government organs living frugally. We must continue to implement a moderately accommodative monetary policy. Take promoting stable economic growth and a reasonable rebound in prices as important considerations of monetary policy, flexibly and efficiently use a variety of policy tools such as reserve-requirement-ratio cuts and interest-rate cuts, maintain ample liquidity, unblock the transmission mechanism of monetary policy, and guide financial institutions to step up support for expanding domestic demand, scientific and technological innovation, small and micro enterprises, and other key areas. Keep the RMB exchange rate basically stable at a reasonable and balanced level. We must enhance the consistency and effectiveness of macro policy orientation. Incorporate various economic policies and non-economic policies, as well as existing policies and incremental policies, into assessments of macro policy orientation consistency. Improve the expectation-management mechanism and boost social confidence. 会议指出，明年经济工作在政策取向上，要坚持稳中求进、提质增效，发挥存量政策和增量政策集成效应，加大逆周期和跨周期调节力度，提升宏观经济治理效能。要继续实施更加积极的财政政策。保持必要的财政赤字、债务总规模和支出总量，加强财政科学管理，优化财政支出结构，规范税收优惠、财政补贴政策。重视解决地方财政困难，兜牢基层“三保”底线。严肃财经纪律，坚持党政机关过紧日子。要继续实施适度宽松的货币政策。把促进经济稳定增长、物价合理回升作为货币政策的重要考量，灵活高效运用降准降息等多种政策工具，保持流动性充裕，畅通货币政策传导机制，引导金融机构加力支持扩大内需、科技创新、中小微企业等重点领域。保持人民币汇率在合理均衡水平上的基本稳定。要增强宏观政策取向一致性和有效性。将各类经济政策和非经济政策、存量政策和增量政策纳入宏观政策取向一致性评估。健全预期管理机制，提振社会信心.

After this, the readout lists the 8 key tasks for next year.

First, adhere to domestic-demand as the driving force and build a strong domestic market. Deeply implement the special actions to boost consumption, and formulate and implement a plan to increase the incomes of urban and rural residents. Expand the supply of high-quality goods and services. Optimise the implementation of the ‘two new’ policies. Clean up unreasonable restrictive measures in the consumption field and release the potential of service consumption. Promote investment to stop declining and stabilize, appropriately increase the scale of investment within the central budget, optimize the implementation of ‘two major’ projects, optimize the management of the use of local government special-purpose bonds, and continue to give play to the role of new-type policy-oriented financial instruments, effectively stimulating the vitality of private investment. Advance urban renewal with high quality. 一是坚持内需主导，建设强大国内市场。深入实施提振消费专项行动，制定实施城乡居民增收计划。扩大优质商品和服务供给。优化“两新”政策实施。清理消费领域不合理限制措施，释放服务消费潜力。推动投资止跌回稳，适当增加中央预算内投资规模，优化实施“两重”项目，优化地方政府专项债券用途管理，继续发挥新型政策性金融工具作用，有效激发民间投资活力。高质量推进城市更新.

Second, adhere to innovation-driven development and accelerate the cultivation and expansion of new drivers. Formulate a plan to advance the integrated development of education, science and technology, and talent. Build international science and technology innovation centers in Beijing (Beijing–Tianjin–Hebei), Shanghai (Yangtze River Delta), and the Guangdong–Hong Kong–Macao Greater Bay Area. Strengthen the principal role of enterprises in innovation and improve the intellectual property protection system in emerging fields. Formulate an action plan for expanding capacity and improving quality in the service sector. Implement a new round of actions for the high-quality development of key industrial chains. Deepen and expand AI+ and improve AI governance. Innovate science and technology financial services. 二是坚持创新驱动，加紧培育壮大新动能。制定一体推进教育科技人才发展方案。建设北京（京津冀）、上海（长三角）、粤港澳大湾区国际科技创新中心。强化企业创新主体地位，完善新兴领域知识产权保护制度。制定服务业扩能提质行动方案。实施新一轮重点产业链高质量发展行动。深化拓展“人工智能+”，完善人工智能治理。创新科技金融服务.

Third, adhere to tackling reform challenges and enhance the driving force and vitality of high-quality development. Formulate regulations on the construction of a unified national market, and thoroughly rectify ‘involution-style’ competition. Formulate and implement plans to further deepen the reform of state-owned assets and state-owned enterprises, and improve supporting regulations and policies for the law on promoting the private economy. Accelerate the clearing of arrears owed to enterprises. Promote win-win development among platform enterprises and the operators and workers within platforms. Expand pilot programs for factor-market-oriented reform. Improve the local tax system. Deeply advance the reduction in quantity and improvement in quality of small and medium-sized financial institutions, and continuously deepen the comprehensive reform of investment and financing in the capital market. 三是坚持改革攻坚，增强高质量发展动力活力。制定全国统一大市场建设条例，深入整治“内卷式”竞争。制定和实施进一步深化国资国企改革方案，完善民营经济促进法配套法规政策。加紧清理拖欠企业账款。推动平台企业和平台内经营者、劳动者共赢发展。拓展要素市场化改革试点。健全地方税体系。深入推进中小金融机构减量提质，持续深化资本市场投融资综合改革.

Fourth, adhere to opening up to the outside world and promote win-win cooperation across multiple fields. Steadily advance institutional opening up, expand independent opening in the service sector in an orderly manner, optimize the layout and scope of pilot free trade zones, and solidly advance the construction of the Hainan Free Trade Port. Advance the integrated development of trade and investment, and the integrated development of domestic and foreign trade. Encourage and support service exports, and actively develop digital trade and green trade. Deepen reform of the systems and mechanisms for promoting foreign investment. Improve the comprehensive overseas service system. Promote high-quality development of jointly building BRI. Promote the negotiation and signing of more regional and bilateral trade and investment agreements. 四是坚持对外开放，推动多领域合作共赢。稳步推进制度型开放，有序扩大服务领域自主开放，优化自由贸易试验区布局范围，扎实推进海南自由贸易港建设。推进贸易投资一体化、内外贸一体化发展。鼓励支持服务出口，积极发展数字贸易、绿色贸易。深化外商投资促进体制机制改革。完善海外综合服务体系。推动共建“一带一路”高质量发展。推动商签更多区域和双边贸易投资协定.

Fifth, adhere to coordinated development and promote urban–rural integration and regional linkage. Comprehensively advance urbanization with county seats as important carriers and comprehensive rural revitalization, and promote high-quality development of county-level economies. Strictly observe the red line for cultivated land, unrelentingly grasp grain production well, promote grain and other important agricultural product prices to remain at reasonable levels. Continue to consolidate and expand the achievements of poverty alleviation, incorporate normalised assistance into the overall implementation of the rural revitalization strategy, and firmly hold the bottom line of preventing large-scale return to poverty or falling back into poverty. Support economically strong provinces in shouldering major responsibilities. Strengthen coordinated linkage among key urban agglomerations, and deepen cross–administrative regional cooperation. Strengthen overall planning of major bays and promote high-quality development of the marine economy. 五是坚持协调发展，促进城乡融合和区域联动。统筹推进以县城为重要载体的城镇化建设和乡村全面振兴，推动县域经济高质量发展。严守耕地红线，毫不放松抓好粮食生产，促进粮食等重要农产品价格保持在合理水平。持续巩固拓展脱贫攻坚成果，把常态化帮扶纳入乡村振兴战略统筹实施，守牢不发生规模性返贫致贫底线。支持经济大省挑大梁。加强重点城市群协调联动，深化跨行政区合作。加强主要海湾整体规划，推动海洋经济高质量发展.

Sixth, adhere to the guidance of the ‘dual carbon’ goals and promote a comprehensive green transformation. Deeply advance energy conservation and carbon reduction transformations in key industries. Formulate the outline plan for building a strong energy country, accelerate the construction of a new-type energy system, and expand the application of green electricity. Strengthen the construction of the national carbon emissions trading market. Implement a comprehensive solid waste management action plan, deeply fight the battles to protect blue skies, clean water, and clean land, and strengthen the control of new pollutants. Solidly advance the tough battle of the ‘Three-North’ project, and implement the integration and optimization of nature reserves. Strengthen the construction of meteorological monitoring, forecasting, and early-warning systems, accelerate efforts to make up for shortcomings in flood control, drainage, and disaster-resilience infrastructure in northern regions, and enhance the capacity to respond to extreme weather. 六是坚持“双碳”引领，推动全面绿色转型。深入推进重点行业节能降碳改造。制定能源强国建设规划纲要，加快新型能源体系建设，扩大绿电应用。加强全国碳排放权交易市场建设。实施固体废物综合治理行动，深入打好蓝天、碧水、净土保卫战，强化新污染物治理。扎实推进“三北”工程攻坚战，实施自然保护地整合优化。加强气象监测预报预警体系建设，加紧补齐北方地区防洪排涝抗灾基础设施短板，提高应对极端天气能力.

Seventh, persist in taking the people’s livelihood as the greatest priority, strive to do more practical things for the broad masses of the people. Implement actions to stabilize jobs, expand employment capacity, and improve employment quality. Stabilize employment for key groups such as college graduates and migrant workers. And encourage and support people in flexible employment and new forms of employment to participate in employee insurance. Promote the adjustment of the layout and structure of educational resources, increasing the supply of senior high school places and the enrollment of undergraduate students in high-quality universities. Optimize centralized procurement of medicines, and deepen reform of medical insurance payment methods. Implement a project to expand and improve rehabilitation and nursing services, promote the long-term care insurance system, and strengthen care and assistance for vulnerable groups. Advocate a positive view on marriage and childbearing, and strive to stabilize the number of new births. Solidly do a good job in work safety, disaster prevention, mitigation and relief, and food and drug safety, among other areas. 七是坚持民生为大，努力为人民群众多办实事。实施稳岗扩容提质行动，稳定高校毕业生、农民工等重点群体就业，鼓励支持灵活就业人员、新就业形态人员参加职工保险。推进教育资源布局结构调整，增加普通高中学位供给和优质高校本科招生。优化药品集中采购，深化医保支付方式改革。实施康复护理扩容提升工程，推行长期护理保险制度，加强对困难群体的关爱帮扶。倡导积极婚育观，努力稳定新出生人口规模。扎实做好安全生产、防灾减灾救灾、食品药品安全等工作.

Eighth, adhere to maintaining bottom-line security and actively and prudently resolve risks in key areas. Focus on stabilizing the real estate market, implementing city-specific policies to control new supply, reduce inventory, and optimize supply, and encourage the acquisition of existing commercial housing primarily for affordable housing. Deepen the reform of the housing provident fund system and promote the construction of ‘good houses’ in an orderly manner. Accelerate the construction of a new model for real estate development. Actively and orderly defuse local government debt risks, urge localities to proactively resolve debt, and prohibit illegal additions of hidden debt. Optimize methods for debt restructuring and replacement, and use multiple measures simultaneously to defuse the operational debt risks of local government financing platforms. 八是坚持守牢底线，积极稳妥化解重点领域风险。着力稳定房地产市场，因城施策控增量、去库存、优供给，鼓励收购存量商品房重点用于保障性住房等。深化住房公积金制度改革，有序推动“好房子”建设。加快构建房地产发展新模式。积极有序化解地方政府债务风险，督促各地主动化债，不得违规新增隐性债务。优化债务重组和置换办法，多措并举化解地方政府融资平台经营性债务风险.

The meeting pointed out that it is necessary to consciously align thoughts and actions with the Party Central Committee’s scientific assessment of the situation, grasp the overall trend of China’s development, and strengthen confidence in future development. It is essential to fully implement the overall requirements and policy directions for next year’s economic work, adhere to a proactive and pragmatic goal-oriented approach, focus on resolving existing difficulties and problems, achieve greater breakthroughs in effective qualitative improvements, and enhance the sense of gain for residents and enterprises; strengthen the synergistic effect of reforms and policies, and promote sustained improvement in economic operation and market expectations. It is necessary to grasp the key focus points of next year’s economic work within the overall context, centering on strengthening the domestic circulation, expanding new spaces for domestic demand growth; centering on developing new-quality productive forces, promoting the deep integration of scientific and technological innovation and industrial innovation; centering on stimulating the driving force and vitality of high-quality development, unswervingly deepening reform and expanding opening up; centering on continuously improving people’s well-being, increasing efforts to guarantee and improve people’s livelihoods; and centering on safeguarding the bottom line of security, and prudently resolving risks in key areas. 会议指出，要自觉把思想和行动统一到党中央对形势的科学判断上来，把握我国发展大势，坚定对未来发展的信心。要全面贯彻明年经济工作的总体要求和政策取向，坚持积极务实的目标导向，着力解决存在的困难问题，在质的有效提升上取得更大突破，增强居民和企业的获得感；增强改革与政策的协同效应，推动经济运行和市场预期持续向好。要在大局中把握明年经济工作的关键着力点，围绕做强国内大循环，拓展内需增长新空间；围绕发展新质生产力，推动科技创新和产业创新深度融合；围绕激发高质量发展的动力活力，坚定不移深化改革扩大开放；围绕不断增进民生福祉，加大保障和改善民生力度；围绕守牢安全底线，稳妥做好重点领域风险化解.

The meeting emphasised that it is necessary to strengthen the Party’s comprehensive leadership over economic work, and form a unified will and a powerful joint force. It stressed the importance of adhering to the centralized and unified leadership of the Party Central Committee, with all regions and departments adapting to local conditions and implementing the Party Central Committee’s thinking, tasks, and policies for next year’s economic work. It called for establishing and practicing a correct view of performance, focusing on achieving results for the people and through practical work, consciously acting in accordance with objective laws, and improving the differentiated assessment and evaluation system. It is necessary to compile national and local 15th FYP plans and special plans in accordance with the ‘Proposals’ of the Fourth Plenary Session of the 20th Central Committee of the Party, and promote high-quality and sustainable development. It is necessary to create a good political environment, talent environment, business environment, and public-opinion environment, strengthen policy propaganda and interpretation, and fully stimulate positive energy in society. 会议强调，要加强党对经济工作的全面领导，形成统一意志和强大合力。要坚持党中央集中统一领导，各地区各部门结合实际、因地制宜，全面落实党中央关于明年经济工作的思路、任务、政策。要树立和践行正确政绩观，坚持为人民出政绩、以实干出政绩，自觉按规律办事，完善差异化考核评价体系。要按照党的二十届四中全会《建议》编制国家和地方“十五五”规划及专项规划，推动高质量、可持续的发展。要营造良好的政治环境、人才环境、营商环境、舆论环境，加强政策宣传解读，充分激发社会正能量.

The meeting emphasised the need to ensure the supply of essential goods for people’s livelihood during the year-end and beginning of the new year, care for the production and lives of people in need, and resolutely prevent and curb major and serious accidents. The meeting called on the entire Party and society to unite even more closely around the Party Central Committee with Comrade Xi Jinping at its core, work together with one heart and mind, and to strive to achieve the economic and social development goals and tasks for next year, ensuring a good start and a solid foundation for the 15th FYP. 会议要求，要做好岁末年初重要民生商品保供工作，关心困难群众生产生活，坚决防范遏制重特大事故发生。会议号召，全党全社会要更加紧密团结在以习近平同志为核心的党中央周围，万众一心、砥砺前行，奋力实现明年经济社会发展目标任务，确保“十五五”开好局、起好步。

On Sunday, there were a couple of reports, discussing Xi Jinping’s engagements during the CEWC. Some of the remarks contained are noteworthy. For instance, this piece focuses on Xi’s remarks on the need to adapt the development of new-quality productive forces to local conditions. He says:

“Some places, disregarding reality, blindly chase trends. Seeing others engage in chips, they themselves also engage. Seeing others engage in ‘new three items’, they themselves also are unwilling to fall behind.’ Aiming at some phenomena, he put forth a vivid metaphor, ‘Organisms have diversity; regions have differences. There are elderly people, there are young people; some are young in age, some are old. Why should everyone choose to do the same kind of work?’

Ecological and environmental protection must also be adapted to local conditions. To govern prominent problems of ecological degradation, it is necessary to ‘plant trees where suitable, grow grass where suitable, manage sand where suitable, and leave barren land where that is suitable’; in protecting and utilizing water resources, it is necessary to ‘determine cities by water, determine land by water, determine people by water, and determine production by water.’ Speaking of these concrete methods, the General Secretary summed up: ‘Human development is a process of coexistence with nature; acting recklessly divorced from reality does not work.’

Rural toilet renovation must also be adapted to local conditions. General Secretary Xi Jinping has deep insight into small livelihood matters: ‘The differences between north and south are so great; how can toilet renovation use one single model? In the great wilderness with only a few households, also engaging in standard toilets, is it necessary? We must not turn a project that wins the people’s hearts into a ‘project that arouses people’s resentment’.”

“一些地方不顾实际，盲目追风口。看别人搞芯片，自己也搞。看别人搞‘新三样’，自己也不甘落后。”针对一些现象，他打了个形象的比方，“生物有多样性，地区有差异性，有老年人，有青年人，有的年幼有的年长，为什么都选择干一样的活呢? 生态环保要因地制宜。”治理生态退化突出问题，要“宜林则林、宜草则草、宜沙则沙、宜荒则荒”；保护利用水资源，要“以水定城、以水定地、以水定人、以水定产”。提起这些具体的方法，总书记总结道，“人类发展就是一个与自然共生的过程，脱离实际蛮干是行不通的。”“农村改厕也要因地制宜。”习近平总书记对民生小事洞察深入：“南北差异那么大，改厕怎么能一个模式？大荒原上没几户人，也搞标准厕所，有必要吗？不能把民心工程变成了‘民怨工程’。”

In this article, Xi talks about the importance of establishing and practicing a correct view of political achievements. Xi says:

“‘Over the years, we have relentlessly worked to correct ‘image projects’ and ‘performance projects,’ achieving many results. But the problem has not been completely eradicated, and new variations have even appeared in some places.’ At this point, the General Secretary’s expression grew grave: ‘In some places, development zones are large but inappropriate; in some places, exhibitions, expos, and forum activities have developed in a disorderly manner,’ as well as inflation of numbers, fake groundbreaking, and ‘fake-invoice economy’ (“数字注水”、虚假开工、“开票经济”)…

Prevent problems at the outset and guard against them while they are incipient; be cautious at the beginning. ‘Strengthen supervision and rein in unhealthy tendencies. The opening of the 15th FYP is imminent; it is necessary to wash away muddy and polluted waters and purify the atmosphere’. Unity of thought is the foundation of unity in politics and unity in action. Visible achievements and hidden achievements, practical work and superficial work, regional interests and overall interests, the present and the long term—the choices made reveal the overall perspective and sense of responsibility. ‘To create achievements, we must address the questions of for whom we create achievements, what kind of achievements we create, and how we create achievements. That is, we must address the issue of the correct view of political achievements.” General Secretary Xi Jinping once used these ‘three questions’ to expound the way of governance. At this meeting, he once again explained them. “我们这些年驰而不息纠正形象工程、政绩工程，取得了很多成效，但没有根治，有的地方还出现了新变种。”讲到这里，总书记神色凝重，“有的地方开发区大而不当，有的地方展会论坛活动无序发展”，还有“数字注水”、虚假开工、“开票经济”……杜渐防萌，慎之在始。“强化监管，刹住歪风邪气。‘十五五’开局在即，要荡涤污泥浊水、净化氛围空气。”思想统一是政治统一、行动统一的基础。显绩与潜绩、实功与虚功、一域与全局、当前与长远，抉择中见格局担当。“创造业绩，必须解决好为谁创造业绩、创造什么样的业绩、怎样创造业绩的问题，也就是要解决好政绩观问题。”习近平总书记曾以这“三问”讲述为政之道。这次会议上，他再次娓娓道来。

For whom to create achievements?

“‘Persist in creating achievements for the people.’ The General Secretary’s speech was plain and profound. The Communist Party of China, with its original aspiration as firm as rock, ‘considers serving the people and bringing benefits to the people as the most important political achievement, and uses how many good and practical things have been done for the people as an important standard for examining political achievements’. The meeting outlined eight key tasks for next year’s economic work, all focused on addressing the ‘people’s livelihood’ issue. General Secretary Xi Jinping, while discussing stabilising the employment base, specifically emphasised preventing migrant workers from returning to poverty after returning to their hometowns. Aiming at signs and tendencies of neglecting the ‘three rurals’, he spoke in a precise manner: ‘After the victory in poverty alleviation, there was a transition period; this year it was completed, but completion does not mean the task has been done with. We must still take ‘three rurals’ work as the top priority, do a good job in linking the consolidation and expansion of poverty alleviation achievements with rural revitalization; and still regard the development of rural revitalisation and ‘three rurals’ work as the foundation of Chinese-style modernisation.” 为谁创造业绩？“坚持为人民出政绩。”总书记讲话质朴深邃。初心如磐的中国共产党，“把为民办事、为民造福作为最重要的政绩，把为老百姓办了多少好事实事作为检验政绩的重要标准。”会议部署明年经济工作的八项重点任务，处处着眼于答好“民生卷”。习近平总书记讲到稳住就业基本盘，特别强调要防止农民工返乡变返贫。针对忽视“三农”的苗头倾向，他有的放矢：“脱贫攻坚取得胜利后，有一个过渡期，今年完成了，但完成不代表任务取消了。仍然要把‘三农’工作作为重中之重，抓好巩固拓展脱贫攻坚成果同乡村振兴的衔接；仍然以乡村振兴、‘三农’工作的发展作为中国式现代化的底座.”

“What kind of achievements to create?

‘The view of political achievements is manifested not only in grasping development, but also in benefiting people’s livelihood and safeguarding stability; not only in visible achievements that take effect in the near term, but also in latent achievements that lay foundations, build future momentum, and benefit the long term; not only in resolving real contradictions, but also in resolving historically left-over problems.’ These words contain dialectical thinking.

Speaking of the highlights of the 14th FYP, the General Secretary mentioned scientific and technological innovation achievements that go up to the sky, enter the earth, and go down into the sea as ‘making people look at them with fresh eyes’, and said that ‘practice has proven that they cannot choke us by grabbing our ‘neck’;” the ‘APEC blue’ sky has become the norm, and the average PM2.5 concentration in the Beijing-Tianjin-Hebei region in the first three quarters of this year ‘decreased by 54% compared to 10 years ago’; the world’s largest renewable energy system has been built, and now for every three kilowatt-hours of electricity consumed, one kilowatt-hour is green electricity…Item after item of latent achievements that lay foundations, build future momentum, and benefit the long term has, through unremitting effort, realized transformative leaps.” 创造什么样的业绩？“政绩观既体现在抓发展上，也体现在惠民生、保稳定上；既体现在即期见效的显绩上，也体现在打基础、增后劲、利长远的潜绩上；既体现在解决现实矛盾上，也体现在解决历史遗留问题上。”言辞间蕴含辩证。谈及“十四五”亮色，总书记提到上天入地下海的科技创新成果“令人刮目相看”，“实践证明，对我们‘卡脖子’是卡不住的”；“APEC蓝”已成常态，今年前三季度京津冀PM2.5平均浓度“比10年前下降了54%”；建成全球最大的可再生能源体系，现在每用3度电，就有1度是绿电……一项项“打基础、增后劲、利长远的潜绩”，在锲而不舍的跋涉中实现了蝶变跃升.

“How to create achievements?

‘Create achievements through solid work’, General Secretary Xi Jinping said succinctly. ‘Consciously act according to objective laws, do not engage in that set of practices of seeking quick success and instant benefit, falsification, or blind reckless action in the pursuit of achievements; and put an end to new officials not dealing with old accounts, as well as image projects and achievement projects.’ At the meeting, he spoke about assessment and planning; what was conveyed were all value orientations of only valuing the real and only putting the real first, and of being good at doing and good at seeing things through to completion: ‘It is necessary to improve the differentiated assessment and evaluation system, raise the precise and scientific nature of assessments, and make the assessment mechanism truly effective’. The central and local governments are currently engaged in planning work. ‘We must strengthen overall coordination, streamline and optimize planning tasks that are overlapping, repetitive, or ineffective, and prevent excessive and redundant planning’. ‘All plans must seek truth from facts, pursue growth that is solid and real, with no ‘falsification of data’, and promote high-quality and sustainable development. For those that are divorced from reality, impetuous and rash, that layer pressure level upon level, and spread out stalls in a disorderly manner (engage in reckless expansion), they will be held accountable’, General Secretary Xi Jinping emphasised with sincerity. 怎样创造业绩？“以实干出政绩，”习近平总书记言简意赅，“自觉按规律办事，不在追求政绩上搞急功近利、弄虚作假、盲目蛮干那一套，杜绝新官不理旧账和形象工程、政绩工程。”会上，他讲到考核和规划，传递的都是唯实惟先、善作善成的价值取向：“要完善差异化考核评价体系，提高考核的针对性和科学性，让考核指挥棒真正管用。”国家和地方正在进行规划编制工作，“要加强统筹，精简优化交叉重复、缺乏实效的规划编制任务，防止规划过多过滥”。“所有规划都要实事求是，追求实实在在、没有水分的增长，推动高质量、可持续的发展。对于脱离实际急躁冒进、层层加码、乱铺摊子的，要严肃问责。”习近平总书记语重心长.

“Through this perspective on achievements, one can sense a strategic resolve. Looking outward, amid the turbulent tariff wars and trade wars, it is like rowing a boat against the current, not a single stroke must be slowed (i.e., one is navigating against the current and there isn’t a moment where one must ease). China has shown the world composure and confidence: ‘We have shown the spirit, backbone, and confidence of the Chinese people, demonstrated our core strength, and earned the respect of the international community’. Looking inward, ‘some 15th FYP projects are ready and can start construction ahead of schedule, but this must prevent ineffective investment as the premise, and strictly prevent projects from being abandoned immediately after completion or investments from failing. General Secretary Xi Jinping cautioned, ‘regarding the decline in investment, we must both attach high importance and remain calm. From the perspective of achieving basic socialist modernisation, there is ample room for investment in things or investment in people’. Maintaining resolve, sinking roots deeply, and doing solid work, on the road to rejuvenation, advance steadily and go far. The General Secretary’s tone was firm: ‘facing the volatile international situation and various risks and challenges, we must maintain strategic resolve and unswervingly manage our own affairs well’.” 透过政绩观，可感悟一份战略定力。向外看，风云激荡的关税战、贸易战之下，逆水行舟、一篙不可放缓。中国向世界展示了从容自信：“打出了中国人的志气骨气底气，彰显了我们的硬核实力，赢得了国际社会尊重。”向内观，“有些‘十五五’规划项目准备好了，可以提前开工建设，但必须以防止无效投资为前提，严防建成即荒废、投资即流产的问题。”习近平总书记叮嘱，“对投资下滑，既要高度重视也要沉着冷静。从基本实现社会主义现代化的要求来看，无论投资于物还是投资于人都有广阔空间。”守定力、深扎根、务实功，复兴路上笃行致远。总书记语气坚定：“面对国际风云变幻和各种风险挑战，我们要保持战略定力，坚定不移把自己的事情办好.”

Okay, now let’s come to Monday’s paper, there are a couple of interesting developments to cover:

First, on the front page, there’s a report (related English report) informing that as per the China Academy of Information and Communications Technology (CAICT), China’s core AI industry exceeded 900 billion yuan in 2024, with a growth rate of 24%. Preliminary estimates suggest that the core AI industry is expected to exceed 1.2 trillion yuan in 2025. The data show that the application of LLMs in the manufacturing sector has grown significantly this year, with the proportion of application cases increasing from 19.9% ​​last year to 25.9%, driving the rapid growth of the AI industry.

Next, on Page 3, there is a report on Wang Yi’s visit to Saudi Arabia. On Sunday, Wang co-chaired the Fifth Meeting of the Political Sub-committee of the China-Saudi Arabia High-level Joint Committee in Riyadh with Saudi Foreign Minister Faisal bin Farhan Al Saud.

Wang Yi said that the friendship between the Chinese and Saudi people has a long history, and both countries possess strong internal driving forces for development and revitalization. Wang said that Saudi Arabia is an important member of the Arab and Islamic worlds and an independent force in the process of multipolarization. In recent years, under the strategic guidance of Chinese President Xi Jinping and Saudi King Salman bin Abdulaziz Al Saud as well as Saudi Crown Prince Mohammed bin Salman Al Saud, exchanges and cooperation across all fields between the two countries have progressed in a sound and steady manner. China-Saudi Arabia relations are increasingly transcending the bilateral scope and becoming more strategically significant and globally influential. China has always regarded Saudi Arabia as a priority in its Middle East diplomacy and an important partner in its global diplomatic layout. China is willing to work with Saudi Arabia to implement the important consensus reached by the leaders of the two countries, grasp the direction of China-Saudi Arabia relations, firmly support each other on issues concerning each other’s core interests, coordinate cooperation in various fields, continuously enrich the content of the comprehensive strategic partnership, and build China-Saudi Arabia relations into a new benchmark for mutually beneficial trust and solidarity between countries, promoting bilateral relations to a higher level. 王毅表示，中沙人民之间友好源远流长，两国发展振兴都具有强大内生动力。沙特是阿拉伯和伊斯兰世界的重要成员，也是多极化进程中一支独立力量。近年来，在习近平主席和萨勒曼国王陛下、穆罕默德王储兼首相殿下战略引领下，两国各领域交流合作健康顺畅开展，中沙关系日益超越双边范畴，越来越具有战略意义和全球影响。中方始终视沙特为中东外交优先方向和全球外交布局重要伙伴，愿同沙方将两国领导人重要共识落到实处，把握好中沙关系前进方向，在涉及彼此核心利益问题上坚定相互支持，统筹协调各领域合作，不断充实全面战略伙伴关系内涵，将中沙关系打造成国与国之间互利互信、团结协作的新标杆，推动两国关系不断迈上更高水平.

Wang Yi said that next year will mark the 10th anniversary of the establishment of the comprehensive strategic partnership between the two countries. In this important year of transition, China is willing to further strengthen high-level exchanges with Saudi Arabia, welcomes Saudi leaders to attend the second China-Arab States Summit in China next year, and looks forward to working with Saudi Arabia to ensure the success of the summit. China stands ready to maintain close coordination with Saudi Arabia on preparations for the Fifth Meeting of the China-Saudi Arabia High-Level Joint Committee, so as to support and ensure the smooth advancement of major bilateral agendas next year. 王毅表示，明年两国将迎来建立全面战略伙伴关系10周年。值此承上启下的重要年份，中方愿同沙方进一步密切高层交往，欢迎沙方领导人明年来华出席第二届中国—阿拉伯国家峰会，期待同沙方一道努力，确保峰会取得成功。中方愿同沙方就中沙高级别联合委员会第五次会议筹备工作保持对接，服务保障好明年重大双边议程.

Wang Yi pointed out that China and Saudi Arabia are important economic and trade partners. China will further expand its opening up during the 15th FYP period, which will bring new opportunities for China-Saudi Arabia cooperation. The two sides should strengthen cooperation in traditional fields such as energy and investment, and expand cooperation in new fields such as new energy and green transformation, creating more tangible results. China welcomes Saudi enterprises to increase investment in China and supports Chinese enterprises to invest and develop in Saudi Arabia, and hopes that Saudi Arabia will continue to provide a good business environment for Chinese enterprises. The two sides should also enhance exchanges in culture, tourism and other fields, facilitate people-to-people exchanges, deepen mutual understanding, and strengthen the fraternal friendship between the two peoples. China supports Saudi Arabia in playing a greater role in international and regional affairs, supports Saudi Arabia’s bid to host the 2030 Riyadh World Expo, and is willing to strengthen communication and cooperation with Saudi Arabia on multilateral platforms such as the United Nations, the G20, and BRICS, practicing true multilateralism and upholding international fairness and justice. 王毅指出，中沙互为重要经贸合作伙伴。中国将在“十五五”时期进一步扩大对外开放，这将为中沙合作带来新的机遇。双方要加强能源、投资等传统领域合作，拓展新能源、绿色转型等新领域合作，打造更多可视化成果。中方欢迎沙特企业加大对华投资，支持中国企业赴沙特投资兴业，希望沙方继续为中国企业提供良好营商环境。双方还要密切文化、旅游等领域交流，进一步便利人员往来，增进相互了解，深化中沙兄弟情谊。中方支持沙方在国际和地区事务中发挥更大作用，支持沙方举办2030年利雅得世界博览会，愿同沙方在联合国、二十国集团、金砖国家等多边平台加强沟通协作，践行真正的多边主义，维护国际公平正义.

Among other things, the Saudi FM said: “Saudi Arabia firmly adheres to the one-China principle and will never support any separatist actions advocating ‘Taiwan independence’...indulging ‘Taiwan independence’ runs counter to the international law principle of non-interference in internal affairs and amounts to allowing various separatist forces to disrupt global stability.”

Xinhua adds:

“He noted that Saudi Arabia highly appreciates China’s remarkable development achievements and is willing to maintain close high-level exchanges with China, learn from its advanced experience, and deepen cooperation in trade, investment, energy and the circular economy to achieve mutually beneficial and win-win outcomes. Saudi Arabia looks forward to the second China-Arab States Summit and the China-Gulf Cooperation Council (GCC) Summit to be held in China next year, and is ready to make full preparations while actively advancing negotiations on the China-GCC Free Trade Agreement, the Saudi minister noted. He added that Saudi Arabia welcomes more Chinese enterprises to invest and operate in the country and is willing to offer more preferential policies. He noted that Saudi Arabia highly values China’s important role in international affairs, particularly its principled and just stance on issues such as Palestine. Saudi Arabia supports the series of global initiatives proposed by Xi and is willing to strengthen multilateral communication and coordination with China to safeguard the common interests of developing countries and jointly advance the process of multipolarization, he added.”

The two sides also exchanged views on international and regional issues, including the situation in the Middle East and Afghanistan. They also signed an agreement on mutual visa exemption for holders of diplomatic, service and special passports from both countries.

Also on the page is a Zhong Sheng commentary, criticising “right-wing politicians” in Japan, who must work to “eradicate the poison of militarism, truly embark on the path of peaceful development, and win the trust of their Asian neighbours and the international community with concrete actions.” The commentary also criticises PM Takaichi for taking actions that “reveal a dangerous tendency to revive militarism.”