Xi Focuses on Tech, Education & Talents - Moderately Loose Monetary Policy to Focus on Real Economy - New Venture Capital Guidance Fund & Consumption Plan in the Pipeline
Here are the reports on articles that I found worth reading in the People’s Daily on Friday, March 07, 2025.
Page 1: The main report on the front page today is about Xi Jinping’s meeting with national political advisors from the China Democratic League, the China Association for Promoting Democracy, and the education sector. The report says that at the meeting six of the attendees spoke on the following themes:
promoting the coordinated development of vocational education and regional industries
optimising the allocation of basic education resources
creating a reading ecology for children and youth
advancing the construction of the national education smart network
promoting the integrated development of education and science and technology talents
carrying forward traditional culture through school curriculum
联组会上，张运凯、蔡光洁、郑家建、徐坤、崔亚丽、马景林等6位委员，围绕推进职业教育与区域产业协同发展、优化基础教育资源配置、打造儿童青少年阅读生态、推进国家教育智联网建设、推进教育科技人才一体发展、依托学校课程弘扬传统文化等作了发言.
After this, Xi spoke. He praised the contributions of the CPPCC, and folks from the China Democratic League, the China Association for Promoting Democracy, and the education sector over the past year. Then the report says:
“Xi Jinping stressed that to build a strong country in education, science and technology, and talents, we must adhere to the correct direction of education and cultivate socialist builders and successors with all-round development of morality, intelligence, physical fitness, aesthetics, and labor. It is essential to focus on using the Thought on Socialism with Chinese characteristics for a New Era to forge souls and cultivate people, integrating moral education throughout the entire process of intellectual, physical, aesthetic, and labor education. We must adhere to simultaneously advancing the construction of ideological and political courses and arming with the Party's innovative theory, and ensure that ideological and political courses and curriculum-based ideological and political education move forward together, and effectively integrate the ‘small classroom’ of ideological and political education with the ‘big classroom’ of society, making moral education more thorough and effective.” 习近平强调，建设教育强国、科技强国、人才强国，必须坚持正确办学方向，培养德智体美劳全面发展的社会主义建设者和接班人。要聚焦用新时代中国特色社会主义思想铸魂育人，把德育贯穿于智育、体育、美育、劳动教育全过程。要坚持思政课建设和党的创新理论武装同步推进、思政课程和课程思政同向同行，把思政教育“小课堂”和社会“大课堂”有效融合起来，把德育工作做得更到位、更有效.
Xi Jinping pointed out that comprehensively deepening education reform is the fundamental basis for building a high-quality education system and providing education that satisfies the people. It is necessary to establish a scientific education evaluation system and give full play to its role as a ‘baton’. It is necessary to improve the school management system, implement the autonomy of schools in running schools, and continuously improve the level of education and management in accordance with the law. It is necessary to focus on the needs of modernisation, adapt to the changes in the population structure, coordinate basic education, higher education, and vocational education, coordinate government investment and social investment, and establish and improve a more reasonable and efficient mechanism for the allocation of education resources. 习近平指出，建设高质量教育体系，办好人民满意的教育，根本在于深化教育综合改革。要确立科学的教育评价体系，有效发挥指挥棒作用。要完善学校管理体系，落实学校办学自主权，不断提升依法治教和管理水平。要着眼现代化需求，适应人口结构变化，统筹基础教育、高等教育、职业教育，统筹政府投入和社会投入，建立健全更加合理高效的教育资源配置机制.
Xi Jinping emphasised that to achieve a positive interaction between independent scientific and technological innovation and independent talent cultivation, education must further play a pioneering and fundamental support role. It is necessary to effectively implement breakthrough plans for basic disciplines and interdisciplinary fields, build joint innovation platforms integrating schools, enterprises, and local governments, and improve the efficiency of transforming scientific and technological achievements. It is necessary to improve the mechanism for aligning talent cultivation with economic and social development needs, and enhance the quality and effectiveness of independent talent cultivation. It is necessary to implement the national education digitalisation strategy, build a learning-oriented society, and promote the emergence of talents of various types and levels. 习近平强调，实现科技自主创新和人才自主培养良性互动，教育要进一步发挥先导性、基础性支撑作用。要实施好基础学科和交叉学科突破计划，打造校企地联合创新平台，提高科技成果转化效能。要完善人才培养与经济社会发展需要适配机制，提高人才自主培养质效。要实施国家教育数字化战略，建设学习型社会，推动各类型各层次人才竞相涌现.
Xi Jinping pointed out that building a strong country in education, science and technology, and talents is the common responsibility of the whole Party and society. The CPPCC should fully leverage its role as a special consultation agency, widely gather people’s hearts, build consensus, gather wisdom, and build strength to promote the high-quality development of education, science and technology, and talents. Members of the China Democratic League, the China Association for Promoting Democracy, and education sector should give full play to their own advantages, better support and participate in the practice of integrated reform and development of the education, science and technology, and talent systems and mechanisms, contributing wisdom and strength to enhancing the overall effectiveness of the national innovation system. 习近平指出，建设教育强国、科技强国、人才强国，是全党全社会的共同责任。人民政协要充分发挥专门协商机构作用，广泛凝聚人心、凝聚共识、凝聚智慧、凝聚力量，促进教育科技人才事业高质量发展。广大民盟、民进成员和教育界人士要发挥自身优势，更好支持参与教育科技人才体制机制一体改革和发展的实践，为提升国家创新体系整体效能贡献智慧和力量.
Another key report on the page is a consolidated report detailing the engagements of other top leaders.
Li Qiang met with the Hebei delegation. He said that:
In the face of new situations and tasks this year, it is necessary to seize new opportunities in the coordinated development of Beijing-Tianjin-Hebei, actively carry out industrial collaboration, innovation coordination, and joint project construction, and achieve greater development by better aligning with Beijing and Tianjin. It is necessary to strengthen new driving forces in industrial transformation and upgrading, promote the empowerment of traditional industries through technology, and facilitate the clustered development of emerging industries. It is necessary to form new advantages in the construction of the green barrier by tapping into the potential of green resources. It is necessary to promote the construction of Xiong’an New Area with high standards and high quality, improve infrastructure and public service levels, and create a livable and business-friendly environment. 今年面对新的形势和任务，要在京津冀协同发展中把握新机遇，主动开展产业协作、创新协同、项目共建，在更好对接京津中实现更大发展。要在产业转型升级中壮大新动能，推动科技赋能传统产业，促进新兴产业集聚发展。要在绿色屏障建设中形成新优势，挖掘绿色资源潜力。要高标准高质量推进雄安新区建设，提高基础设施和公共服务水平，营造宜居宜业环境.
Li also attended a joint meeting of committee members from the economic and agricultural sectors. He told them that:
At present, China still faces many difficulties and challenges in its development. To achieve this year’s goals and tasks, it is necessary to enhance the foresight, precision, and effectiveness of macroeconomic regulation. A more proactive fiscal policy should focus on leveraging the combined effects of expenditure scale, key areas, and rhythm, while a moderately loose monetary policy should provide more abundant financing support for the real economy. It is essential to expand and strengthen the domestic circulation, boost consumption to enhance the driving force of economic circulation, make greater breakthroughs in promoting residents’ income growth—increasing high-quality supply, and improving the consumption environment—and open up the chain of consumption driving investment, driving industrial upgrading, and driving employment and income growth; stimulate the vitality of economic circulation by deepening reform, accelerate the construction of a unified national market, and strive to remove bottlenecks in market access and exit, factor allocation, and product circulation, so as to create a good environment for enterprise development; release the potential of economic circulation through scientific and technological innovation, promote the deep integration of scientific and technological innovation and industrial innovation, cultivate and expand new pillar industries, and open up new market spaces. It is necessary to coordinate the advancement of new urbanisation and comprehensive rural revitalisation, thoroughly implement the new urbanisation strategic action, and accelerate the construction of liveable, business-friendly, and beautiful rural areas. The bottom line of preventing large-scale return to poverty must be firmly upheld, while continuously strengthening the endogenous development momentum of formerly impoverished areas. 当前我国发展面临的困难挑战依然较多，完成今年目标任务，要提高宏观调控的前瞻性、针对性、有效性，更加积极的财政政策要注重发挥支出规模、重点、节奏的组合效应，适度宽松的货币政策要为实体经济提供更加充裕的融资支持。要下力气做大做强国内大循环，以提振消费增强经济循环的动力，在促进居民增收、增加优质供给、改善消费环境等方面取得更大突破，打通消费带动投资、带动产业升级、带动就业增收链条；以深化改革激发经济循环的活力，加快建设全国统一大市场，着力破除市场准入退出、要素配置、产品流通等方面堵点卡点，为企业发展营造良好环境；以科技创新释放经济循环的潜力，推动科技创新和产业创新深度融合，培育壮大新的支柱产业、拓展新的市场空间。要统筹推进新型城镇化和乡村全面振兴，深入实施新型城镇化战略行动，加快建设宜居宜业和美乡村。坚决守住不发生规模性返贫致贫底线，不断增强脱贫地区内生发展动力.
Zhao Leji attended a joint group meeting attended by political advisors from the China Zhi Gong Party, the All-China Federation of Returned Overseas Chinese and the sector of friendship with foreign countries. Zhao praised Xi and said that “practice has fully proved that the centralised and unified leadership of the CPC Central Committee is the fundamental guarantee for doing a good job in all aspects of work.”
He further told the attendees that he hoped that they would “thoroughly study and implement Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, consciously unify thoughts and actions with the decisions and deployments of the CPC Central Committee, focus on the central tasks of the Party and the country, perform duties, and widely gather people’s hearts, consensus, wisdom, and strength to promote Chinese-style modernisation. It is essential to adhere to the leadership of the Communist Party of China, unswervingly follow the path of political development of socialism with Chinese characteristics, and proactively publicise the characteristics and advantages of China’s political system. The advantages of different sectors should be fully leveraged to earnestly carry out consultation, political discussion, and democratic supervision activities, contributing to further comprehensive deepening of reform and promoting high-quality development. It is essential to closely integrate services for overseas Chinese with serving the overall national interests, rallying the hearts and strength of overseas Chinese, and striving to draw the largest possible concentric circle for building a strong nation and achieving national rejuvenation.” 希望深入学习贯彻习近平新时代中国特色社会主义思想，自觉把思想和行动统一到中共中央决策部署上来，聚焦党和国家中心任务履职尽责，为推进中国式现代化广泛凝聚人心、凝聚共识、凝聚智慧、凝聚力量。要坚持中国共产党领导，坚定不移走中国特色社会主义政治发展道路，积极主动对外宣介我国政治制度的特点和优势。要发挥界别优势，认真开展协商议政和民主监督活动，为进一步全面深化改革、推动高质量发展贡献力量。要坚持把为侨服务和为国家大局服务紧密结合起来，凝聚侨心侨力，着力画好强国建设、民族复兴的最大同心圆.
Wang Huning met with political advisors from the sector of religious bodies. The report says that Wang told them that “the CPC Central Committee with Comrade Xi Jinping as the core has attached great importance to religious work, and the party's religious work has achieved positive results”. He added:
“It is necessary to thoroughly study and implement General Secretary Xi Jinping’s important expositions on religious work, firmly support the leadership of the Communist Party of China and the socialist system, fully implement the Party’s basic principles on religious work, and actively guide religion to adapt to socialist society. It is essential to strengthen ideological and political guidance, guide religious figures and believers to carry forward the fine tradition of patriotism and love for religion, cultivate the sense of community of the Chinese nation, continuously enhance the ‘five identifications’, and better unite around the Party and the government. It is necessary to systematically promote the sinicization of religion in China, adhere to the guidance of the core socialist values and immersion within Chinese culture, and gradually form religious doctrines and thoughts that conform to the characteristics of China’s national conditions. It is necessary to strengthen law-based governance of religious affairs, guide religious figures and believers to enhance national consciousness, civic consciousness, and legal consciousness, and ensure that religious activities are conducted legally, safely, and in an orderly manner. CPPCC members from the religious community should strengthen their understanding and grasp of the Party’s theories, principles and policies on religious work, deepen research on major issues in the religious field, and actively contribute to the Party’s religious work in the new era.” 6日上午，王沪宁参加了宗教界委员小组会。在认真听取宗性、胡诚林、阿地里江·阿吉克力木等委员发言后，王沪宁表示，中共十八大以来，以习近平同志为核心的中共中央高度重视宗教工作，党的宗教工作取得积极成效。要深入学习贯彻习近平总书记关于宗教工作的重要论述，坚决拥护中国共产党领导、拥护社会主义制度，全面贯彻党的宗教工作基本方针，积极引导宗教与社会主义社会相适应。要强化思想政治引领，引导宗教界人士和信教群众弘扬爱国爱教优良传统，涵养中华民族共同体意识，不断增进“五个认同”，更好团结凝聚在党和政府周围。要系统推进我国宗教中国化，坚持社会主义核心价值观引领、中华文化浸润，逐步形成符合我国国情特点的宗教教义思想。要加强宗教事务治理法治化，引导宗教界人士和信教群众增强国家意识、公民意识、法治意识，确保宗教活动依法、安全、有序。宗教界政协委员要加强对党的宗教工作理论和方针政策的理解和掌握，深化宗教领域重大问题研究，积极为做好新时代党的宗教工作献计出力.
Cai Qi participated in a joint group meeting of political advisors from the sectors of social sciences as well as the press and publication. The report says that Cai praised Xi’s leadership, his thought and called on everyone to understand and implement Xi’s cultural thought, thereby making new contributions to “building a cultural power.” The report adds:
Cai said that it is necessary to strengthen cultural confidence, adhere to the ‘two integrations,’ deepen systematic scientific research on the Party’s innovative theories, solidly advance the construction of disciplinary systems, academic systems, and discourse systems, and build an independent knowledge system of Chinese philosophy and social sciences. It is essential to consolidate and strengthen the mainstream public opinion that advances in the new era, uphold the Marxist view of journalism, grasp the correct direction of public opinion, focus on strengthening confidence and stabilizing expectations, create more high-quality works, and vividly tell China’s story. Social science and news publishing workers must put social responsibility first, uphold the ideal of pursuing scholarship for the people and expressing emotions for the people, promote excellent academic ethics, and advance the prosperity and development of philosophy, social sciences, and news publishing.” 要坚定文化自信，坚持“两个结合”，深化党的创新理论体系化学理化研究，扎实推进学科体系、学术体系、话语体系建设，构建中国哲学社会科学自主知识体系。要巩固壮大奋进新时代的主流舆论，坚持马克思主义新闻观，把握正确舆论导向，着力强信心、稳预期，打造更多精品力作，生动鲜活讲好中国故事。社会科学和新闻出版工作者要把社会责任放在首位，坚守为人民做学问、为人民抒情抒怀的理想，弘扬优良学风，推动哲学社会科学和新闻出版事业繁荣发展.
Ding Xuexiang attended a joint group meeting of political advisors from Hong Kong and Macao. He emphasised the concepts of one country, two systems, Hong Kong people governing Hong Kong, and Macao people governing Macao. He also called to “build a solid barrier to safeguard national security, consolidate and enhance the unique status and advantages of Hong Kong and Macao, (and) promote Hong Kong and Macao to better integrate into the overall national development”.
Finally, Li Xi attended a joint group meeting of political advisors from the Communist Youth League of China and the All-China Youth Federation, the All-China Federation of Trade Unions, and the All-China Women’s Federation. Li told them that:
Li Xi emphasised that resolutely opposing corruption and building clean politics is a clear political stance that the Communist Party of China has consistently upheld. We must deeply understand the correct judgment of the CPC Central Committee with Comrade Xi Jinping at its core regarding the situation of the anti-corruption struggle, always maintain high pressure, deeply advance the simultaneous investigation and treatment of misconduct and corruption, focus on rectifying improper conduct and corruption issues around the masses, promote the improvement of the Party and state supervision system, strengthen the construction of clean governance culture in the new era, and integrate the promotion of deterrence so officials dare not be corrupt, strengthen institutional constraints so they cannot be corrupt, and foster the right values so they do not want to be corrupt, thereby resolutely fighting the tough battle, protracted war, and comprehensive campaign against corruption. 李希强调，坚决反对腐败，建设廉洁政治，是中国共产党一贯坚持的鲜明政治立场。要深刻领悟以习近平同志为核心的中共中央对反腐败斗争形势的准确判断，始终保持高压态势，深入推进风腐同查同治，着力整治群众身边不正之风和腐败问题，推动完善党和国家监督体系，加强新时代廉洁文化建设，一体推进不敢腐、不能腐、不想腐，坚决打好反腐败斗争攻坚战、持久战、总体战。
Page 2: On the page, the key report is about the press conference by economic policy officials. One of the biggest announcements from the press conference announcement was the establishment of a National Venture Capital Guidance Fund, seeking to mobilise 1 trillion yuan. Fred Gao’s Inside China substack has a full translation of the press conference. It’s truly helpful, and I am quoting from there, and encourage you to read through the translation.
The fund will “primarily guide financial capital to invest early, small, long-term, and in hard technologies, mainly focusing on frontier areas such as artificial intelligence, quantum technology, hydrogen energy storage, and other cutting-edge fields. The fund has a lifespan of 20 years, which is longer than typical equity investment funds.
Another key point was that we should expect a Special Action Plan to Stimulate Consumption. So let’s see what this is.
Page 3: There’s a report on Liu Zhenli, CMC member and Chief of Staff of the Joint Staff Department, and Zhang Shengmin, member of the CMC and secretary of the CMC’s Discipline Inspection Commission, meeting with PLA and PAP delegates.
Liu told them that “in this extraordinary year’s journey, we have come to more deeply realise that the more severe the storms, the more prominent the decisive significance of the Two Establishments. In implementing the spirit of the conference, we must thoroughly implement Xi Jinping’s thought on strengthening the military, anchor to the army’s centennial goal, continuously deepen political rectification, focus on improving the quality and effectiveness of combat readiness, firmly and flexibly carry out military struggle, and resolutely complete all tasks assigned by the CPC Central Committee, the Central Military Commission and Chairman Xi.” 这一年很不平凡的历程使我们更加深刻体悟到，风浪越大“两个确立”的决定性意义就愈加凸显。贯彻大会精神，要深入贯彻习近平强军思想，锚定实现建军一百年奋斗目标，持续深化政治整训，聚力提高备战打仗质效，坚定灵活开展军事斗争，坚决完成党中央、中央军委和习主席赋予的各项任务.
Zhang also talked about the importance of the Two Establishments. He further said:
“The military discipline inspection and supervision organs must focus on achieving the Two Safeguards, implement the CMC Chairman responsibility system to strengthen political supervision, and deepen political rectification, continue to increase pressure and efforts to advance the rectification of work style, discipline and anti-corruption efforts, and promote the integration of not daring to be corrupt, not being able to be corrupt, and not wanting to be corrupt, so as to provide strong conduct and discipline guarantees for the battle to achieve the centennial goal of the military.” 军队纪检监察机关要聚焦做到“两个维护”、贯彻军委主席负责制强化政治监督、深化政治整训，持续加压加力纵深推进正风肃纪反腐，一体推进不敢腐、不能腐、不想腐，为打好实现建军一百年奋斗目标攻坚战提供坚强作风和纪律保障。