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lower-income－some growing and others not) developing countries will be of huge importance in red
ucing poverty further. Although these countries face significant headwinds, they could also seize imp
ortant new growth opportunities－especially with the help of digital platforms.
The headwinds are certainly considerable. For starters, advances in digital technolo
gies－robotics, machine learning, sensors, and vision－directly threaten the labor-intensive manu
facturing and assembly upon which lower-income, nonresource-rich economies have traditionally relied.
Moreover, climate change has had its greatest economic impact on the tropical and subtropical regio
ns where most of the lower-income countries are located. The effects of global warming are highly disrup
tive in fragile economies, and, taken together, constitute a major new obstacle to growthle
ulsory education, basic medical care, housing, drinking water, eldercare and ch
ild care, in addition to addressing other pressing issues for some groups in society.
Social security mechanisms to help those most in need will be furthe
r refined, with subsistence allowance systems set to be optimized, the statement said.
The meeting also called for full implementation of requirements set in the Ce
ntral Economic Work Conference, the annual policymaking meeting held in December.
The meeting urged an even more proactive fiscal policy and full implementation of tax and fee cuts.
Monetary policy will be eased or tightened to the right degree, and
it will be adjusted in accordance with economic growth and real-time inflationary and pricing
scenarios, the statement said, adding that financial support for the real economy will be bolstered.
ld shoulder the historical responsibility of leading the people in realizing national indep
endence, people’s liberation, national prosperity and happiness for the people, Xi said.
By doing so, it should be made clear why socialism has taken root and continues to improve and de
velop in China so as to guide people to draw lessons and wisdom from history, and foster stronger confi
dence in the path, theory, system and culture of socialism with Chinese characteristics, he added.
He called for in-depth studies of the great significance of patriotism, progress, democracy and science advocated in the movem
ent so that its spirit can motivate young people to make unremitting contributions to national rejuvenation.
Xi also underscored the importance of responding to why the theme of contemporary Ch
inese youth movements should be to strive to achieve the Chinese Dream of national rejuvenation, require all aspects of socie
ty to care for and serve the youth, and also create a sound environment for them to develop, innovate and undertake pioneering work.
up a fifth of the total number in China. Up to 51 companies in the district realized annual revenue of more than 10 billion yuan. Baidu Inc, Cambricon Techno
logies Corp and Beijing Dream Ink Technologies Co have become global leaders in various cutting edge technologies.
“The fruitful results in Haidian’s scientific innovation sector are due to the increasing investment i
n research and development,” said Dai Binbin, head of the district. “In 2018, Haidian’s R&D intensit
y was 4.6 times the national level, and higher than levels in the Republic of Korea and Japan.”
Beijing’s Xicheng district, where many domestic and oversea
s financial companies and organizations are located, has carried out a series of policies to boost the
financial sector’s development, and is another example of the capital’s high-quality growth.
For instance, the district government provides subsidies of up to
50 million yuan to newly set up financial organizations. For financial companies that m
ove into the district, the government gives subsidies to help them offset rent and capital purchases.
For high-end talent, both local and foreign, the district offer
s better resources in medical care, education and living arrangements.