In 2024, China's overall economic operation will be stable and steady with progress, and the total economic output will reach a new level of 130 trillion yuan for the first time, successfully completing the main goals and tasks of economic and social development. 2025 is the year when the 14th Five Year Plan comes to an end. Doing a good job in this year's economic work is crucial for achieving the goals and tasks of the 14th Five Year Plan with high quality, and for starting a good start for the 15th Five Year Plan. At present, China has favorable factors and supporting conditions to promote the economy to ride the wind and waves, move steadily and achieve long-term development. The policy was strengthened awesome, driving expectations to improve and the economy to recover. In 2024, China's economy will fluctuate and move forward, showing a trend of "high in the front, medium low in the middle, and rising in the back". In September 2024, the Central Committee of the Communist Party of China decisively deployed a package of incremental policies, striking a strong policy "combination punch" to promote a significant rebound in economic operation and effectively boost social confidence. The Central Economic Work Conference held at the end of the year proposed to implement more proactive and proactive macro policies, sending a strong signal of stable growth. The sustained release of the effects of stock policies and incremental policies will strongly support the sustained recovery and improvement of the economy in 2025. The solid promotion of industrial upgrading and the steady development of new quality productive forces. The technological innovation capability continues to improve, and China's global innovation index ranking has risen to 11th place. In 2024, strategic emerging industries will accelerate their development, and the annual output of new energy vehicles will exceed 10 million units for the first time. The cultivation of future industries is accelerating, traditional industries are transforming at an accelerated pace, and the application scope of artificial intelligence technologies such as DeepSeek is rapidly expanding. "Ne Zha: The Magic Children Roar in the Sea" continues to showcase new vitality in the development of cultural industries. The reform of key links continues to deepen, and high-level opening up to the outside world is being promoted in depth. The Third Plenary Session of the 20th Central Committee of the Communist Party of China comprehensively outlined a reform blueprint for the new era and new journey, proposing over 300 important reform measures. The construction of a unified national market is advancing in depth, and the institutional mechanisms for the development and growth of the private economy are constantly improving, further stimulating market vitality and boosting enterprise expectations and confidence. China is steadily expanding its institutional opening-up and deepening the construction of free trade zones and ports, with trading partners spread across five continents. The orderly and effective resolution of risks in key areas has strengthened the foundation for sustained economic recovery and improvement. The supply capacity of food and energy continues to improve, and the security guarantee is more powerful. Looking back on 2024, China's economic ship has fearlessly sailed forward along the path of high-quality development, and has delivered an impressive performance report. Looking ahead to 2025, it is necessary to plan systematically and implement comprehensive policies to ensure the stable and sustainable development of the Chinese economy. Accelerate the implementation of policies in areas such as finance, currency, and consumption. Proactive and proactive fiscal policies highlight the expansion of scale and progress, such as appropriately increasing the scale of government fiscal expenditures and improving approval efficiency; Moderately loose monetary policy emphasizes cost reduction and incremental flows towards the real economy, such as improving the transmission mechanism from "loose money" to "loose credit", and increasing support for the real economy through credit, bonds, and other means; The consumption policy emphasizes the enhancement of capabilities and willingness, such as strengthening the expansion of the "two new" policies and including more rapidly updated consumer goods in the scope of support. Promote the implementation and effectiveness of landmark reform measures. Deepen the construction of a unified national market. Focus on market access, administrative approval, factor acquisition, and technological achievement transformation, and carry out the "activation" action; Accelerate the implementation of measures such as promoting the reform of the fiscal and taxation system with mature conditions; Establish a sound system and mechanism for developing new quality productive forces tailored to local conditions. Effectively strengthen and improve the management of micro subject expectations, and stabilize the expectations of private enterprises through pragmatic actions. Strengthen protection and enhance household consumption confidence. Enhance employment support for key areas, key industries, and urban and rural grassroots. In addition, it is necessary to strengthen the forward-looking analysis and policy toolbox reserve of the situation. To address the operational difficulties and market fluctuations that may arise from external shocks, it is necessary to develop contingency plans to assist enterprises in overcoming difficulties, safeguard people's livelihoods, and maintain market stability, ensuring that systemic risks do not occur. (Xinhua News Agency) Author: Huang Hanquan (Director of the Macro Economic Research Institute of the National Development and Reform Commission)