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At the Central Economic Work Conference, convened in late 2017, Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era was put forward for the first time. It contains a series of principles for managing the Chinese economy, such as pursuit of high-quality development, supply-side structural reform, and allowing the market to play the decisive role in resource allocation while more effectively bringing out the role of government in market regulation.

At present, the recovery of economic growth mainly depends on fiscal policy. If the fiscal policy cannot play a leading role in promoting growth, the role of monetary policy will be very limited.

At the mountain-ringed Tingzikou hydropower station in Guangyuan, Sichuan province, a gigantic 5G-enabled underwater robot swims in a stilling basin, which is basically a 20-meter-deep pool or reservoir that can reduce turbulence of water flow.

At the first Belt and Road Forum for International Cooperation two years ago, 279 outcomes covering five areas were reached and all have been implemented. Last April, the second Forum was successfully held, where 283 outcomes covering six areas were reached, and more than 65 billion dollars of deals on cooperation projects were signed. The second Forum marked the beginning of a new stage for high-quality BRI development.

At the media briefing, Liu said China is ready to buy goods not only from the US but also from the rest of the world, adding that China, with its large middle-income population, will become the world’s largest market.