China’s annual Central Economic Work Conference, which ended in Beijing on December 7, emphasized that the country should give priority to the soundness of economic operations instead of the growth rate in the future. Comparing the quality-first approach with the previous focus on GDP growth, a Xinhua News Agency commentary hails the adjustment as a significant change in the development strategy of the country.
　　It has been put forward in the Central Economic Work Conference that China’s economy is to be developed in a sound and rapid way, where “soundness” is particularly stressed, different from the past emphasis on the growth rate. The emphasis on “soundness” represents an overhaul of China’s development mode, that is, a change from the stress on speed to that on efficiency and quality. To develop the economy in a “sound and rapid” way is not only the priority of the coming year’s economic work but is also the basic guideline for China’s economic development in the future.
　　The proposal to develop China’s economy in a sound and rapid way has set up a new standard for the country’s development. While highlighting efficiency and quality, it also stresses energy conservation and environmental protection, and while macroeconomic growth is emphasized, more efforts are called to help the people gain tangible benefits from the increase of national wealth.
　　“Sound development” places great importance on “coordinated” economic growth, that is, to harmonize the relationship among speed, quality and efficiency, among consumption, investment and exports, and among population, resources and the environment. The concept of “sound and rapid” economic growth is an innovation made on the basis of years of experience in China’s economic growth, which also enriches the people-first outlook on development.
　　For quite a long time in the future, given the actual situation in China’s economic development, “soundness” will be more important than the growth rate. Together with the achievements, over two decades of sustainable and rapid economic growth in China have also produced quite a lot of problems and conflicts. Some of the problems are unavoidable while others result from the overemphasis on the speed of growth.
　　Not only do these problems hurt China’s current economic development, but they are also hidden troubles that may lead to a drastic fluctuation in the economy. To settle these problems, it is necessary to adjust the country’s development mode, to achieve rapid growth on the basis of “soundness” and to put “soundness” in a more prominent position in economic growth.
　　It’s no exaggeration to say that the emphasis on “soundness” can serve as a guideline for the country’s current economic work. Having singled out the major bottlenecks in the current economic development, we are now able to make decisions and policies based on that reality.
　　Of course, the stress on “soundness” does not necessarily mean the neglect of growth speed, but it targets long-term, sustainable and stable “rapid economic growth.” It is necessary to maintain relatively rapid economic growth, and it is also years of sustainable rapid economic growth that have contributed to China’s growing national strength and made it possible for us to pay more attention to “soundness” now.
　　At this moment, only by seizing the opportunity to change from the speed-stressed economic growth mode to a quality-oriented one and trying to remove various obstacles in the way of the country’s economic development can stable and rapid economic growth be ensured.
　　To put “soundness” first is an adjustment of the development mode, and even more it is a change in priority on China’s economic work agenda. According to the Central Economic Work Conference, the country will focus on economic restructuring and transformation of the economic growth mode in the coming years, and more strategic importance will be attached to resource and land conservation and also environmental protection.
　　More stringent measures are to be taken to enhance energy conservation and to restrict the discharge of pollutants. Great efforts are to be made to coordinate the relationship among the speed, quality and efficiency of economic operations and to improve public welfare so that economic growth will bring tangible benefits to the ordinary people.
　　The pursuit of sound development is a tough test of the governance concept held by government officials at various levels. The GDP growth cult, the practice of sacrificing the environment to attract investment and the so-called “development” that is achieved at the cost of people’s interests, are supposed to be stopped immediately.
　　

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