An outreach meeting on theoretical study by the central division of the leading Party group was recently convened by the State Administration of Foreign Exchange. Yi Gang, administrator and secretary of the leading Party group of the SAFE, presided over the meeting. The meeting was held to convey the spirit of the Central Economic Work Conference and the Central Conference on Urbanization and to make future plans for foreign exchange administration.

It was agreed by the participants that the Central Work Economic Conference was held in the context that the Third Plenary Session of the Eighteenth Chinese Communist Party Congress established the overall planning regarding the deepening of the reform. The Conference was of great significance for pursuing sustainable and healthy development of the economy in 2014. The Conference comprehensively summarized the progress in economic development in 2013, conducted in-depth analysis into circumstances both at home and abroad, and proposed the essential requirements to make progress while maintaining stability and to implement the reform while make innovations in economic development in 2014. The Conference was of vital importance for us to consolidate our convictions, gather our strength, deepen reform in an all-round manner, and maintain a positive momentum for economic and social development. The Central Conference on Urbanization was the first of its kind since the launch of the reform and opening-up policy convened by the Party Central Committee, and it was an important move for deepening the reform in an all-round manner. It is of crucial strategic significance for the advancement of urbanization in the right direction.

It was stressed at the meeting that 2014 will be the first year for the SAFE to comprehensively implement the spirit of the Third Plenary Session of the Eighteenth Chinese Communist Party Congress and to deepen the reform in an all-round manner. The SAFE should comprehensively carry out the spirit of the Eighteenth Chinese Communist Party Congress and its Second and Third Plenary Sessions, adhere to the keynote of making progress while maintaining stability, carry out reform and innovation in each area of social and economic development, maintain the continuity and stability of macro-economic policies, focus on stimulating the vitality of the market, accelerate transformation of the mode of economic restructuring, effectively improve the quality and benefits of economic development, and promote sustainable and healthy economic development as well as social harmony and stability.

The Conferences mandated that all members of the SAFE should study and fully implement the spirit of the Conferences, adhere to the keynote and essential requirements of the Party Central Committee’s planning for economic work in 2014, and with concerted efforts, thoughts, and actions unite with respect to the decisions and arrangement of the Party Central Committee. All members of the SAFE should carry out the reform and make innovations in each area of foreign exchange administration, deepen the reform by giving play to the decisive role of the market in allocating resources, make endeavors to achieve breakthroughs in key areas of foreign exchange administration, and step up improvements in the market-oriented system and the mechanism that facilitates an equilibrium in the balance of payments. It is essential that the role of foreign exchange administration be enhanced to serve the real economy, the policies of foreign exchange administration be aligned with the deepening of the reform, foreign exchange administration improve the reform approaches and methodologies, major efforts be directed to transforming the concepts and approaches of foreign exchange administration, and routine administration and services be carried out. All members of the SAFE should promote the reform in compliance with the spirit of the Party Central Committee and in a correct, accurate, orderly, and harmonious manner, work conscientiously with solidarity, and strive to achieve the sustainable and healthy development of the economy and society.